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Macklem Just Raised the Inflation Alarm: What Monday’s CPI Means for Your Wallet

  Canadian Money Brief  |  Sunday, October 18, 2026  |  Written ahead of Monday’s 8:30 am ET inflation release Bank of Canada Governor Tiff Macklem has just told Canadians what the central bank is about to say on October 28: its inflation forecast is going up, and by a lot. The reason is oil. With the Middle East conflict dragging on, shipments still curtailed and refinery capacity damaged, he said the risk that inflation broadens and lingers has gone up. Speaking to reporters from Bangkok on Saturday, he framed the coming decision as a simple question: will inflation drift back toward 2% on its own, or does the Bank need to raise rates to nudge it there? Monday is the first real clue. Here is what is landing, what economists expect, and what it could mean for your gas bill, your grocery cart, your heating costs and your mortgage. 3.0% August CPI, year over year 3.2% September consensus (Reuters poll) 2.25% BoC policy rate, unchanged for nearly a year Oct 28 Rat...
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Hurricane Milton Leaves 3 Million Without Power in Florida

 

Florida is reeling from the devastating impact of Hurricane Milton, which has left over 3 million residents without power. The storm, which made landfall as a Category 3 hurricane, brought with it ferocious winds and heavy rainfall, causing widespread destruction across the state.

Power Outages and Damage
As of Thursday morning, nearly 3.3 million Floridians are without electricity. The National Hurricane Center reported that the storm, now downgraded to a Category 1, continues to produce damaging winds and heavy rainfall as it moves northeast off Florida’s coast. The storm surge has caused significant flooding in several areas, with some regions experiencing up to 5 feet of water.

Casualties and Emergency Response
Tragically, at least four people have lost their lives due to the storm. Emergency services are working tirelessly to restore power and provide aid to those affected. The state has mobilized resources to assist in the recovery efforts, but the extent of the damage means it will take time to fully restore normalcy.

Community Impact
Residents are urged to stay indoors and avoid flooded areas. Many communities are coming together to support each other, with shelters providing refuge for those displaced by the storm. The resilience and solidarity of Floridians are evident as they navigate this challenging time.

Looking Ahead
While Hurricane Milton moves away from Florida, the focus now shifts to recovery and rebuilding. Authorities are assessing the full extent of the damage and planning the next steps to ensure the safety and well-being of all residents.


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