Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
As Canadians head to their local grocery stores, they may notice a pinch in their wallets. Food prices have been on the rise, and there are several reasons behind this trend.
1. Supply Chain Disruptions
Since the onset of the COVID-19 pandemic, supply chains have faced disruptions worldwide. From transportation delays to labor shortages, these challenges have impacted the availability and cost of food products. When supply chains falter, prices tend to climb.
2. Labor Shortages and Higher Wages
Labor shortages have affected various industries, including agriculture and food processing. As businesses struggle to find workers, wages have increased. These higher labor costs are eventually passed on to consumers through higher food prices.
3. Tariffs and Trade Policies
Trade tensions and tariffs between countries can impact the cost of imported goods. Canada’s trade relationships and agreements play a role in determining the prices of items on our grocery shelves. Changes in trade policies can lead to fluctuations in prices.
4. Weather-Related Challenges
Poor weather conditions in growing regions can affect crop yields. Droughts, floods, or extreme temperatures can damage crops, reducing supply and driving up prices. Canadian farmers and importers face these weather-related challenges, impacting the affordability of food.
5. Anticompetitive Practices
Metro’s CEO recently mentioned that the company expected to pass on higher costs from suppliers as an industry-wide blackout period for price hikes came to an end. While some price adjustments are necessary, anticompetitive practices can exacerbate the situation.
In summary, a combination of supply chain disruptions, labor shortages, trade policies, weather-related issues, and anticompetitive practices has contributed to the rising food prices in Canada. As consumers, it’s essential to stay informed and make informed choices while navigating the grocery aisles.
Remember, the next time you reach for that loaf of bread or a bunch of bananas, you’re not just buying food—you’re also paying for a complex web of global factors that influence the cost of your groceries.
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