Business
Q&A: How the relationship between rate hikes and inflation plays out
By Rosa Saba, The Canadian Press on November 16th, 2022
Statistics Canada said Wednesday that higher mortgage rates are helping fuel the latest high inflation data. But aren’t higher rates supposed to lower inflation? Mortgage costs have been going up, as interest rate hikes make mortgages more expensive, and they’re one of a few components of inflation data directly related to interest rates, explained David ... Read More »
Be the first to comment!Economists see signs of inflation easing, despite annual rate holding steady
By Nojoud Al Mallees, The Canadian Press on November 16th, 2022
OTTAWA – Canada’s annual inflation rate held steady in October, but economists say it’s trending in the right direction. In its latest consumer price index report, Statistics Canada said the country’s annual inflation rate was 6.9 per cent last month, unchanged from September. The federal agency said grocery prices rose at a slower rate in ... Read More »
Be the first to comment!‘Mercedes and Range Rovers:’ Loblaw’s discount chains attract higher-income shoppers
By Brett Bundale, The Canadian Press on November 16th, 2022
More wealthy shoppers are prowling the aisles at discount grocery stores in search of deals amid soaring food inflation, Loblaw Companies Ltd. said Wednesday. “We’re seeing a lot more Mercedes and Range Rovers in the parking lots in those (discount) stores than would have been the case before,” chairman and president Galen G. Weston told ... Read More »
Be the first to comment!Shoppers Drug Mart parent company says cough and cold sales hit all-time high
By The Canadian Press on November 16th, 2022
BRAMPTON, Ont. – Canada’s biggest drugstore chain says sales of cough and cold products hit an all-time high this fall. Loblaw Cos. Ltd. chairman and president Galen G. Weston says the combination of COVID-19, RSV and the flu led to a record number of cough and cold medication sales at the company’s pharmacies, which include ... Read More »
Be the first to comment!Vietnamese electric vehicle maker VinFast launches first showroom in Canada
By The Canadian Press on November 16th, 2022
TORONTO – Vietnamese electric vehicle maker VinFast says it has opened its first Canadian showroom as it prepares for a wider expansion into the market. The company says its first store is in Toronto’s Yorkdale Shopping Centre, while it plans to open seven more stores in the country by year end including at the CF ... Read More »
1 responseS&P/TSX composite edges higher, U.S. stock markets lower in late-morning trading
By The Canadian Press on November 16th, 2022
TORONTO – Canada’s main stock index edged higher as gains in the industrial and utility sectors helped outweigh losses in the energy and base metal stocks, while U.S. stock markets were down in late-morning trading. The S&P/TSX composite index was up 16.80 points at 20,011.58. In New York, the Dow Jones industrial average was down ... Read More »
Be the first to comment!Canada’s annual inflation rate unchanged in October as gas prices climbed
By Nojoud Al Mallees, The Canadian Press on November 16th, 2022
OTTAWA – Canada’s annual inflation rate held steady in October after several months of slowing as gas prices climbed. In its latest consumer price index report, Statistics Canada said the country’s annual inflation rate was 6.9 per cent last month, remaining unchanged from September. Although inflation staying high is not good news, RSM Canada economist ... Read More »
1 responseNFI Group reports US$42.6M Q3 loss, revenue up from year ago
By The Canadian Press on November 16th, 2022
WINNIPEG – NFI Group Inc. reported a loss of US$42.6 million in its latest quarter compared with a loss of US$15.4 million in the same quarter last year as its revenue edged higher. NFI chief executive Paul Soubry says the results reflect the ongoing impacts of unreliable supplier performance, associated production inefficiencies and heightened inflation ... Read More »
1 responseMetro warns food inflation could persist as suppliers continue to increase prices
By Brett Bundale, The Canadian Press on November 16th, 2022
One of Canada’s biggest grocers says it’s continuing to receive many requests from food suppliers for price increases next year. Metro Inc. president and CEO Eric La Flèche said Wednesday the retailer expects food inflation to moderate in the new year as prices are compared against the high inflation of 2022. But the outlook remains ... Read More »
Be the first to comment!Here’s a list of October inflation rates for selected Canadian cities
By The Canadian Press on November 16th, 2022
OTTAWA – Canada’s national annual inflation rate was 6.9 per cent in October, Statistics Canada says. The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets): – St. John’s, N.L.: 6.4 per cent (5.8) – Charlottetown-Summerside: 9.4 ... Read More »
Be the first to comment!Here’s a list October inflation rates for Canadian provinces
By The Canadian Press on November 16th, 2022
OTTAWA – Canada’s national annual inflation rate was 6.9 per cent in October, Statistics Canada says. Here’s what happened in the provinces (previous month in brackets): – Newfoundland and Labrador: 6.5 per cent (6.1) – Prince Edward Island: 8.7 per cent (8.4) – Nova Scotia: 7.7 per cent (7.3) – New Brunswick: 6.9 per cent ... Read More »
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