Canada’s Annual Inflation Rate Rose to 2.9 Percent in May, Driven by Services Prices

Published on June 25, 2024

Canada’s annual inflation rate rose to 2.9 percent in May, largely driven by higher prices for services, Statistics Canada reported on June 25. The agency reported prices for services rose 4.6 percent from a year ago. Prices for goods rose one percent. Grocery prices rose 1.5 percent year-over-year in May, a tick higher compared with April, when they rose 1.4 percent. The annual inflation rate for April was 2.7 percent. The latest consumer price report comes after the Bank of Canada cut its benchmark interest rate by a quarter of a percentage point earlier this month to 4.75 percent. Today’s inflation reading, along with the upcoming June inflation data, are expected to play a key role in the central bank’s next rate decision, set for July 24....

Continue reading on website
Other news

Open Drug Use, Violence Plague Businesses in Duncan, BC—But One Shop Owner Is Trying to Turn the Tide

June 25, 2024
When Will Arnold set up a bike shop in Duncan, B.C., more than 30 years ago, he didn’t realize he’d spend nearly a decade dealing with littered streets, graffiti, and open drug use.He certainly never thought he would be threatened with a gun or have a knife pulled on him in the once-quiet community of 5,000 people.When Mr. Arnold first moved to the tiny city on southern Vancouver Island in 1991, D

California Paying Drivers to Test Road Mileage Tax

June 25, 2024
California is testing a pilot program to determine if charging drivers per mile driven could better fund the state’s highway infrastructure and road repair budgets.The program is accepting 800 participants who can earn up to $400 by completing surveys, calculating their miles driven within the state, and paying charges for road use. Interested drivers need to apply by the end of June and will be n