Two key readings on U.S. inflation will be released this week, while here at home the focus will be on a manufacturing shipments report.

Statistics Canada releases its report on April manufacturing shipments on Tuesday. Economists expect Statistics Canada to report a 0.5 increase in manufacturing shipments in April.

Monday is fairly quiet for economic news in Canada. Finance Minister Ralph Goodale addresses the Halifax Chamber of Commerce, while the Canadian Association of Petroleum Producers holds its 17th annual Oil and Gas Investment Symposium in Calgary.

On Tuesday, The Conference Board of Canada issues its report, Industrial Outlook Spring 2005: Canada’s Auto and Auto Parts Industry.

On Wednesday, Bank of Canada Governor David Dodge addresses the Winnipeg Chamber of Commerce.

On Thursday, Statistics Canada reports on international securities transactions in April.

On Friday, StatsCan reports on wholesale trade for April. Economists a 0.7% increase.

South of the border, the big news is the release of U.S. producer and consumer price reports.

The U.S. Labor Department releases the producer price index for May. Economists expect a decline of 0.2%. Excluding food and energy costs, however, the index is expected to rise by 0.2%.

Labor releases the consumer price index for May on Wednesday. It is seen nudging 0.1% higher, with the core rate rising 0.2%.

In other releases, the he U.S. Commerce Department reports on retail sales in May on Tuesday. Economists expect a drop of 0.2%.

Wednesday is a busy day for U.S. economic news. Commerce reports on business inventories in April. Economists expect an increase of 0.4%.

The New York Federal Reserve Bank releases the Empire State index on manufacturing activity in June. Economists expect a reading of 3.

The U.S. Federal Reserve Board reports on industrial production and capacity utilization in May. Economists expect production to grow by 0.2%, and the capacity utilization rate to come in at 79.3%.

The U.S. Federal Reserve Board is scheduled to publish its Beige Book, on current economic conditions in its 12 districts.

On Thursday, Commerce reports on housing starts and building permits in May. Economists expect 2.05 million starts and 2.106 million permits, both at annualized rates.

The Labor Department reports on initial jobless claims for the week ending June 11. Economists expect 328,000 claims.

The Philadelphia Federal Reserve Bank issues its regional factory index for June. Economists expect a reading of 10.

On Friday, the U.S. Commerce Department reports on the current account in the first quarter. Economists expect a deficit of US$189.3 billion.

The University of Michigan releases its preliminary consumer sentiment index for June. Economists expect a reading of 88.5.

On the earnings calendar, reports are due from Wall Street’s biggest investment banks.

Bear Stearns Co., Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc. are set to report their fiscal second-quarter results for the period ending May next week.

In Canada, printer and publisher Transcontinental Inc. will open the books on its latest quarter.

Other companies reporting results include: Saskatchewan Wheat Pool; Best Buy Co. Inc.; and Adobe Systems Inc.