Canada’s annual inflation rate dropped to 2.5 per cent in July — down from 2.7 per cent in June, Statistics Canada said Tuesday. The national statistics agency said inflation increased at the slowest pace in more than three years, since March 2021. The deceleration was attributed in part to lower prices for travel as compared to a year earlier, when travel … Read more
Year-over-year inflation in the United States reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September. Wednesday’s report from the U.S. Department of Labor showed that consumer prices rose just … Read more
The Bank of Canada wants the economy to pick up speed again and some members of its governing council are concerned that weak job market conditions could hinder that process. That’s according to the central bank’s newly released summary of deliberations detailing discussions ahead of the July 24 rate decision. “With the emergence of slack … Read more
Canada’s annual inflation rate fell to 2.7 per cent in June — down from 2.9 per cent in May — mostly due to slower increases in gasoline prices, Statistics Canada said on Tuesday. Compared to June of last year, gasoline prices rose an average of 0.4 per cent in June. That’s down from a 5.6 per cent annual increase … Read more
The annual rate of new home construction was up in May, while home sales were slightly down, according to data released separately on Monday by the Canada Mortgage and Housing Corporation and the Canadian Real Estate Association. Referred to as housing starts, new home construction was up 10 per cent in May compared to the previous … Read more
Mortgage debt grew at its slowest pace in 23 years in February, amid high borrowing costs and reservations related to the Bank of Canada’s key interest rate — but the slowdown likely won’t last, according to Canada’s housing agency. Canadian mortgage debt totalled $2.16 trillion that month, up 3.4 per cent from the same period last year — a historically low … Read more
U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting some stickiness in inflation that could delay an anticipated June interest rate cut from the Federal Reserve. The consumer price index (CPI) rose 0.4 per cent last month after climbing 0.3 per cent in January, the Labour Department’s Bureau of Labour Statistics … Read more
The Bank of Canada is trying to thread a needle. It’s keeping rates higher for longer at least in part because it’s worried a rate cut now could undermine the last two years of pain and progress. “We don’t want to keep monetary policy this restrictive for longer than we have to. But nor do … Read more
Canada’s annual inflation rate jumped to 3.4 per cent in December, according to data released by Statistics Canada on Tuesday. That’s after both October and November saw inflation hold steady at 3.1 per cent compared to the previous year. StatsCan said that the price of gasoline, air travel, passenger vehicles and rent drove the figure higher in December. Food … Read more
The Bank of Canada’s governing council agreed the odds of another rate hike have decreased during its discussions ahead of the interest rate decision earlier this month. The central bank released its summary of deliberations for its Dec. 6 interest rate decision Tuesday, revealing the governing council felt more optimistic about the country’s inflation outlook. … Read more
