Skip to main content

Featured

5 Things to Know Today: The Money News Shaping Your Week

5 Things to Know Today: The Money News Shaping Your Week 1. Canada’s Economy Grew Faster Than Expected Canada’s economy expanded at an annualized 2.6% in Q4, driven by stronger household spending, exports, and business investment. 2. Manitoba Fast‑Tracks Major Infrastructure Projects A new federal‑provincial agreement introduces a “one project, one review” system to accelerate ports, highways, and energy corridors. 3. Job Market Shows a Small but Positive Uptick Canada added 14,000 jobs in March, with wages rising 4.7% — a key factor ahead of the Bank of Canada’s April 29 rate decision. 4. Oil Markets Remain Volatile After Hormuz Reopening Iran has reopened the Strait of Hormuz, but analysts warn global oil markets may take time to stabilize. 5. Canadians Face Rising Affordability Pressures More Canadians are turning to budgeting tools as inflation, energy costs, and housing pressures persist.
Post a Comment
Read more

article

Labels

Canada’s inflation rate rises in July, but food prices remain stable




According to the latest update from Statistics Canada, the country’s inflation rate accelerated in July 2023. The Consumer Price Index (CPI) rose 3.7% on a year-over-year basis in July, up from a 3.1% increase in June. The increase was mainly due to higher prices for shelter and transportation. However, food prices eased in July, with the food index rising 2.5% year over year compared with a 2.7% increase in June.

Inflation is an important economic indicator that measures the rate at which the general level of prices for goods and services is rising and, subsequently, purchasing power is falling. The rise in inflation can be attributed to various factors such as supply chain disruptions, higher demand for goods and services, and other economic factors. The easing of food prices in July is a positive sign for consumers as it means that they will have to spend less on food items than they did in June.



Labels:

Comments

Post a Comment