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
Canada’s economy shed 2,800 jobs in July while the unemployment rate was unchanged at 6.4 per cent, Statistics Canada said on Friday. Employment fell in wholesale and retail trade, which shed 44,000 jobs, and in finance, insurance, real estate, rental and leasing, which shed 15,000 jobs. Public administration, transportation and warehousing, and utilities saw jobs gains. … 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 has held its key interest rate at five per cent again, saying that it’s still too soon to consider rate cuts while underlying inflation persists. Economists were widely expecting the central bank to hold the rate. The bank said in a note on its website that it was still concerned about underlying inflation, which strips … Read more
A report from Statistics Canada says that the ratio of Canadian household debt to income narrowed in the third quarter. The agency says household credit market debt as a proportion of household disposable income in the third quarter fell to 181.6 per cent, on a seasonally adjusted basis, down from 181.9 per cent in the … Read more
