TL;DR news on Canada inflation rate at August 26, 2023
Conservative leadership candidate Pierre Poilievre has been particularly critical of the Bank of Canada's monetary policy, accusing it of "printing money" and fuelling rising prices. Higher interest rates would cause 'pain': NDP leader NDP leader Jagmeet Singh said the higher borrowing costs that come with rising interest rates will hurt many Canadians. If Biden's 'tax holiday' proposal is successful, Canada would be the only G7 not to bring in a tax cut or subsidy in response to fuel prices. Video link Headline link Advertisement Close X Click to scroll back to top of the page Back to top Canada Sask. "If you aren't over 40, you have never lived through inflation like this, and unfortunately, we are not expecting much of a reprieve going forward," TD Bank economist Leslie Preston said. According to Marietta, calls to 211 have nearly doubled over the past few months with more people requesting help because of the rising inflation rate. Canada's report for May, released Wednesday, showed a 7.7 per cent rise. Federal Reserve, Jerome Powell, took the dramatic step of increasing borrowing costs by 0.75 per cent, a move Canada is expected to follow. "Those would be commodity price issues we're having around the world due to the war in Ukraine." Inflation numbers in Canada released last month laid the facts out for all to see. "But unfortunately, that doesn't look like it's, it's about to happen." Which brings us back to central banks raising interest rates. could affect Canada A low supply of diesel in the United States could have spillover effects here in Canada in the form of higher prices, experts predict. Our content partner MoneyWise Canada details five common RRSP mistakes you should avoid. So if inflation looks like it's going to stay hot, it may be a good time to borrow and buy something. In Canada, some top dividend stocks include: Procter & Gamble Pembina Pipeline Brookfield Infrastructure Partners Fortis Inc. SaltWire Network will not publish letters that are defamatory, or that denigrate individuals or groups based on race, creed, colour or sexual orientation. 4, 2022 |4 min read Premium content Freeland defends Bank of Canada amid opposition attacks Updated May. The marginal increase seems to have dampened BoE rate rise bets, thereby denting Sterling, as investors thought the reading would exceed expectations. Mark Thompson, professor at the University of British Columbia's Sauder School of Business, says cost of living adjustments are common in times of rising inflation. Finance Minister Darlene Compton, who advised Islanders over the winter that they would have to "tighten their belts" to cope with inflation's impacts, claimed $144 for floor mats in February. That's why this year's parties in Canada's oil capital could rival those in 2013 and 2014, when oil prices were above $100 US per barrel. Ottawa Bureau Chief Robert Fife, Senior Parliamentary Reporter Steven Chase, and Atlantic Canada Reporter Greg Mercer report here. Specifically, it has been suggested that the government, which continues to pump out spending at a torrid rate, has been somewhat south of helpful in this regard. Basically, we're not mining all of the things that we need to mine in order to make the conversion at a fast enough rate.