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In August 2023, Canada's inflation rate reached four percent, primarily driven by increased gas prices. [35] Food inflation rates reached 8.5 percent. [36] In November 2024, Canada's annual inflation rate rose to 2.0% in October, exceeding analyst expectations and marking the first increase since May 2024. [37]
The central bank now expects inflation to average 7.2% in 2022, up from 5.3% forecast in April, easing to about 3% by the end of 2023, and then back to the 2% target by the end of 2024.
July 7 Claude Ferragne, high jumper (b. 1952) Robert Arthur Williams, politician (b. 1933) Rachel Wyatt, English-Canadian dramatist (b. 1929) July 9 – Sharon Murdock, politician (b. 1946) July 10 – Alex Janvier, First Nations painter (b. 1935) July 11 – Grace Eiko Thomson, Japanese-Canadian internment camp survivor (b. 1933) July 17
July 2024 data showed that the inflation rate had dropped to 2.9%, the lowest since March 2021, with used car prices returning to normal following the 2020–2023 global chip shortage. [182] Increases in rent, [183] childcare [184] and electricity [185] still outpaced inflation at around 5%.
Canada's largest banks all foresee a 75-basis-point increase to 2.25% from 1.5% when the central bank releases its rate decision at 10 a.m. ET (1400 GMT), after the U.S. Federal Reserve opened the ...
Mortgage rates for Friday, July 12, 2024. 30-year fixed rate — 6.94%. 20-year fixed rate — 6.65%. 15-year fixed rate — 6.46%. ... March inflation data came in higher than expectations, which ...
The average selling price of a home in Canada decreased by 3.9% year-over-year to $724,800 in July 2024. [74] Sales of new condo units in the first half of the year fell 57% from the previous year, marking the slowest pace in 27 years in Toronto [ 75 ] and all housing inventory in Vancouver increased by 39% compared to the year prior, rising ...
Updated December 17, 2024 at 9:53 AM. ... OTTAWA (Reuters) -Canada's annual inflation rate unexpectedly dropped by a tick to 1.9% in November, driven by a broad-based slowdown in prices, while the ...