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Inflation is back at the coveted two per cent annual rate. Wage hikes have outpaced inflation for 19 months in a row. The Bank of Canada is three rate cuts into an easing cycle, with no signs of stopping anytime soon. The recent run of positive economic news had the …
Read More »Ontario food banks ‘cannot keep up’ as usage reaches 8-year high
Ontario food banks “cannot keep up” as usage has reached an eight-year high, a new report reveals. Feed Ontario, a food bank network in the province, released new data Tuesday showing that 1,001,150 Ontarians visited a food bank at least once between April 1, 2023 and March 31, 2024, an …
Read More »Inflation decelerates in July as car prices shift into reverse – National
The annual rate of inflation cooled to 2.5 per cent in July, Statistics Canada said Tuesday, the slowest pace for price growth since March 2021. StatCan said that deceleration in price hikes was “broad-based” last month, with lower prices for travel tours, passenger vehicles and electricity. July figures follow an …
Read More »Youth flaunt ‘underconsumption core’ on social media. What’s this new trend? – National
Young people on social media are showing off their 12-year-old water bottles, sweaters from high school with patched holes and dish rags made from cut up old T-shirts. It’s all part of a trend that has taken social media by storm in recent months called “underconsumption core,” where users boast …
Read More »Inflation data coming amid rate cut bets. Here’s what to know – National
Many economists are expecting that July inflation data coming this week won’t dissuade the Bank of Canada from another interest rate cut at its next decision in September. Tuesday’s release of July consumer price index figures from Statistics Canada will be the central bank’s last look at the latest inflation …
Read More »Thousands of Quebec hotel workers could go on 24-hour strike next week – Montreal
By Staff The Canadian Press Posted August 1, 2024 3:18 pm Updated August 1, 2024 3:20 pm 1 min read Descrease article font size Increase article font size Thousands of hotel workers in Montreal, Quebec City and Sherbrooke, Que., could go on a 24-hour strike next Thursday, according to their union. The …
Read More »Puppy mills now illegal in Ontario, but advocates say little will change for dogs
Puppy mills are now illegal in Ontario after the province recently passed legislation banning them, but critics say the new law will do little to curb the problem. The law, called the Preventing Unethical Puppy Sales Act, or PUPS Act, was beefed up in committee meetings after animal advocates levelled scathing criticism …
Read More »Inflation data coming with big implications for Bank of Canada. What to expect – National
The Bank of Canada will be scrutinizing May inflation figures this week as it gauges whether it can deliver back-to-back interest rate cuts. Statistics Canada is set to release the annual inflation rate for May on Tuesday. Inflation has consistently shown signs of cooling this year, last coming in at …
Read More »Sask. man grows produce due to worries about worsening food quality, inflation
Dean Sopher says he’s pessimistic about the world’s future. It’s why he bought land near Saskatoon and built his own homestead, growing crops and raising livestock to meet his family’s needs. 1:52 How one Sask. farmer grows tropical fruits in the middle of winter But Sopher isn’t gardening typical Prairie …
Read More »The Bank of Canada’s rate decision will reflect inflation’s difficult ‘last mile’ – National
As the Bank of Canada prepares to make its first interest rate decision of the year on Wednesday, economists say headwinds in the “last mile” of the inflation fight will serve as a final hurdle before rate cuts can begin. Inflation has cooled significantly from highs of 8.1 per cent …
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