In the news today: StatCan to release April inflation report today
By The Canadian Press on May 21, 2024.
Here is a roundup of stories from The Canadian Press designed to bring you up to speed on what you need to know today… StatCan to release April inflation report today Statistics Canada is set to release its April consumer price index report this morning. Economists expect Canada’s annual inflation rate fell slightly last month from 2.9 per cent in March. RBC is forecasting prices were 2.7 per cent higher in April compared with a year ago. The Bank of Canada will have a close eye on today’s report as it gears up for its interest rate decision on June 5. Financial markets are leaning toward a July rate cut, but economists say new inflation figures will help solidify expectations. The Bank of Canada has signalled it is inching closer to cutting interest rates, but it wants to see the downward momentum in inflation sustained for longer. Here’s what else we’re watching… Alternative grocers see boost amid Loblaw boycott As the month-long boycott of Loblaw-owned stores wears on, small independent food retailersand alternative grocery options say they’re seeing a boost in traffic and sales. At Forage Market in Edmonton, sales rose 57 per cent during the first half of May, compared with the same period a month before. “It’s just awesome that people are actually putting thought behind where their food comes from,” said business manager Courtney Hanak. Forage Market is like an online farmers market: it hosts local vendors selling meat, produce and more, and warehouses their products so customers receive everything they order in one shipment. After a Reddit group created to complain about Loblaw and the other major grocers gained thousands of members, talk of a boycott started to gain tractionearlier this year as consumers grew increasingly frustrated with high food prices and industry concentration. The organizers planned a boycott of all Loblaw-owned stores in May. Trudeau pushing ‘Team Canada’ in Philly visit Prime Minister Justin Trudeau is in Philadelphia today, on his first trip south of the border since his government launched a new “Team Canada” charm offensive in the United States. Officially he is in Pennsylvania after accepting an invitation to speak at a the Service Employees International Union quadrennial North American convention. But the trip comes five months after Trudeau dispatched his industry and international trade ministers to lead the new trade strategy with American business leaders, labour unions and state and municipal governments. The plan comes as Americans are headed toward a pivotal presidential election for both countries. A potential return to the White House by Donald Trump brings memories of the difficult bilateral relationship during his first term. System failing seniors who are homeless: report A new report says shelters are not designed to meet the physical or mental health needs of the growing number of older adults who are homeless. Lead author Dr. Jillian Alston says people who experience homelessness age faster than people who are housed due to factors such as ongoing stress and the inability to properly manage chronic medical conditions. The paper, published this morning in the Canadian Medical Association Journal, says many people who are homeless are considered seniors as early as age 50. Alston, who is a geriatrician at St. Michael’s Hospital in Toronto, says shelters don’t have essential supports seniors often need, including medication storage or proper wound care. Seniors with mobility issues are also at an increased risk of falling and those with cognitive impairments are at risk of being victimized in shelters. Alston says an aging population, the affordable housing crisis, and life changes – such as losing a partner, becoming injured or relying on a reduced income – all contribute to the rise in homelessness among seniors. Oilers beat Canucks 3-2 in Game 7 to advance It’s been 370 days since Leon Draisaitl declared the 2023-24 season to be “˜Cup or Bust’ for the Edmonton Oilers. They’ll continue their quest to bring the Stanley Cup home to Canada for the first time since 1993 after Edmonton’s 3-2 win in Game 7 over the Vancouver Canucks. Cody Ceci, Zach Hyman and Ryan Nugent-Hopkins scored for the Oilers, while Stuart Skinner made 15 saves. Conor Garland and Filip Hronek replied for Vancouver. Playing his 10th playoff game, Arturs Silovs made 26 saves for Vancouver. With the win, Edmonton advances to the Western Conference final for the first time since 2022. Facing the conference champion Dallas Stars, the best-of-seven series will open at American Airlines Center on Thursday. This report by The Canadian Press was first published May 21, 2024. 36-35
