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A third of Canadians have changed or cancelled their vacation plans due to inflation, according to a new survey by Leger. Of those who have changed their vacation plans, 46 per cent are also cutting back on dining out, found the July survey of 1,526 Canadians. Inflation slowed to 2.8 …
Read More »Inflation dropped below 3% in June, entering Bank of Canada target range – National
Descrease article font size Increase article font size The annual rate of inflation cooled to 2.8 per cent in June, marking a milestone in the Bank of Canada’s efforts to fight raging price pressures. Statistics Canada said Tuesday that the slowdown in prices was “broad-based” but attributed most of the …
Read More »Competition policy becoming a ‘kitchen-table issue’ for Canadians amid inflation – National
As Canadians grow more concerned about rising inflation, competition across different sectors of the economy has become a “kitchen-table issue” at a time when the federal government is reviewing its competition law. The country’s two largest newspaper chains, Postmedia and the owners of the Toronto Star, recently confirmed talks about …
Read More »Statistics Canada set to release GDP report for April – National
A pair of key economic reports are due out Friday morning. Statistics Canada will release its report on how the economy fared in April when it releases its reading of gross domestic product for the month. The agency’s early estimate for April that it released last month had pointed to …
Read More »Does high government spending fuel inflation? Economists says ‘it’s more complicated’ – National
Conservative Leader Pierre Poilievre’s attempt to block the federal government’s budget bill from passing earlier this month is the latest example of government spending coming under scrutiny amid high inflation. And while most fiscal experts agree that government spending can fuel inflation, economic research suggests the link between the two …
Read More »Canada leading most countries in retail sales. Why is spending so high? – National
Retail sales growth in Canada is continuing to outperform much of the world so far this year, a sign of the ongoing resiliency of Canadian shoppers despite higher inflation and recession predictions, a new report has found. The Colliers 2023 Retail Outlook said consumers are still spending, even though retail …
Read More »Bank of Canada set to announce June rate decision. Will it hike or hold? – National
By Staff The Canadian Press Posted June 7, 2023 6:29 am Descrease article font size Increase article font size The Bank of Canada is set to announce its interest rate decision Wednesday as speculation about another rate hike heats up. Recent economic data suggests the Canadian economy is running hotter …
Read More »An Ontario single mom who couldn’t afford fresh food helping others with rising costs
An initiative that started to help out her family and neighbours in London, Ont., struggling with the cost of food during the pandemic is now helping ensure 76 families’ fridges are full. Leah Dyck, 34, the founder of the VanDyck Foundation which runs Fresh Food Weekly, said she started the …
Read More »Housing upturn could delay a shift by Bank of Canada to cut rates. What to know – National
Signs of recovery in Canada’s housing market after a year-long slump, just as higher borrowing costs are expected to slow much of the rest of the economy, could raise inflation and delay a shift by the central bank to interest rate cuts, analysts said. The housing market’s upturn comes after …
Read More »How rising inflation has one Ontario person ‘in overdraft’ almost every month
When you think of luxury, a bus pass or a chocolate bar may not be the first thing that comes to mind, but inflation is giving new meaning to what some people consider an extravagant purchase. Jules Hill, 26, says they never thought fresh produce or buying a chocolate bar …
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