Is the Canada-US price gap closing?

gap, 2011, situation, released, spring

Is the Canada-US price gap closing?
One economist says that could be the trend
Shane Bigham/Financial Post Jul 22, 2011 06:28:16 AM
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VANCOUVER (NEWS1130) - There are signs the Canada-US price gap may finally be closing.

A BMO report released just this spring noted that we Canadians are still paying more than our American counterparts for the same goods. Report author, economist Doug Porter has now told the Financial Post that situation could finally be changing, noting that Apple has introduced a line of computers equally priced on both sides of the border.

That's good news for frequent cross-border shoppers who find the price gap irritating:

"Very much so!" says one woman. "[Especially] when I buy a novel and I pay the Canadian price and the American price is cheaper."

The loonie touched a 3.5-year high over the American dollar yesterday. There's speculation it could set a new all-time high if the economy picks up steam; the record is just over $1.10 US, set in November, 2007.