Canada’s inflation uptick in June has effectively ruled out a July rate cut , according to economists and market analysts. The Consumer Price Index rose to 1.9% year-over-year, up from 1.7% in May, driven by higher prices for durable goods like vehicles and furniture, and a smaller decline in gasoline prices. Core inflation metrics — CPI-median and CPI-trim — remained stubbornly high at 3.1% and 3.0%, respectively, well above the Bank of Canada’s comfort zone. This persistence in underlying inflation, coupled with a surprisingly strong June jobs report showing 83,000 new positions added, has led analysts to conclude that a rate cut at the July 30 meeting is off the table . BMO Chief Economist Douglas Porter summed up the sentiment: “Today’s result gives the Bank of Canada almost nothing to justify a rate cut in July. If the solid employment report was the icing on the cake for that decision, this is the cherry on top”. Market expectations have shifted dramatically. The probabi...
Here are some tips to save money while grocery shopping:
1. Plan your meals
Before heading to the grocery store, plan your meals for the week. This will help you avoid buying unnecessary items and reduce food waste. Make a list of the ingredients you need for each meal and stick to it.
2. Look for deals
Check out the discount racks or look out for items that are on sale. You can also use coupons to save money. But be careful not to buy something just because it’s on sale.
3. Buy in bulk
Buying in bulk can save you money in the long run. You can purchase non-perishable items such as rice, pasta, and canned goods in bulk. This will help you save money and reduce the number of trips you make to the grocery store.
4. Shop at the right time
Try to shop at the grocery store during off-peak hours. This will help you avoid crowds and long lines. You can also take advantage of the markdowns on perishable items that are close to their expiration date.
5. Avoid pre-packaged items
Pre-packaged items are often more expensive than their unpackaged counterparts. For example, you can save money by buying a block of cheese and shredding it yourself instead of buying pre-shredded cheese.
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