Search This Blog
money saving tips for canadians, best saving tips for canadians of all ages. MoneySavings and Canadian news, financial news
Featured
- Get link
- X
- Other Apps
Canada’s inflation rate rises in July, but food prices remain stable
According to the latest update from Statistics Canada, the country’s inflation rate accelerated in July 2023. The Consumer Price Index (CPI) rose 3.7% on a year-over-year basis in July, up from a 3.1% increase in June. The increase was mainly due to higher prices for shelter and transportation. However, food prices eased in July, with the food index rising 2.5% year over year compared with a 2.7% increase in June.
Inflation is an important economic indicator that measures the rate at which the general level of prices for goods and services is rising and, subsequently, purchasing power is falling. The rise in inflation can be attributed to various factors such as supply chain disruptions, higher demand for goods and services, and other economic factors. The easing of food prices in July is a positive sign for consumers as it means that they will have to spend less on food items than they did in June.
Popular Posts
Your lookahead horoscope for the week: March 31, 2024
- Get link
- X
- Other Apps
Aid Ship Departs Cyprus for Gaza Amid Famine Crisis
- Get link
- X
- Other Apps
Comments
Post a Comment