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
Gasoline prices have slowly been increasing every now and then, however, it is still on the path of providing the cheapest price on the fourth of July since 2021. The average cost of a regular gasoline across the U.S. is at $3.51 per gallon, according to a report by the AAA. The price decreased by … Read more
Cost of Living5:50Why is gas always more expensive in the summer? As summer approaches, Canadian drivers have likely already experienced the all-too-familiar rise in prices at gas station pumps. A boosted demand for gasoline by people on road trips affects prices, as did the latest increase in the federal carbon tax in most provinces and territories. But there’s another key … Read more
The Bank of Canada is getting closer to cutting interest rates as inflation shows signs of coming down and staying down, the central bank’s governor, Tiff Macklem, told MPs Thursday. “We do see renewed downward momentum in underlying inflation. The message to Canadians is, we are getting closer. We are seeing what we need to … Read more
Canada’s inflation rate went up slightly in March compared to February, with Statistics Canada pointing out gasoline prices are partly behind the increase. The federal agency’s consumer price index for March 2024 saw a 2.9 per cent increase compared to the year before. In February, that measure was at 2.8 per cent, so while March saw an … 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
