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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.
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 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 ...
The year-over-year change in the so-called core CPI — which excludes volatile food and energy prices — was 3.8%, the same level as it was in February but a tenth of a percent higher than expected.
2024 Summer Olympics. Canada at the 2024 Summer Olympics. Eleanor Harvey wins a bronze medal in fencing at the 2024 Olympics, making it the first medal Canada has ever won in fencing. France at the 2024 Summer Olympics. Léon Marchand wins 400m medley and broke the olympics record that was held by the American swimmer Michael Phelps. (The Guardian)
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 consumer price index was unchanged on a ...
2024 Nigerian general strike. The Nigeria Labour Congress, the Trade Union Congress, and the Nigerian government agree on a new minimum wage of ₦70,000 (US$43) per month, ending prolonged negotiations amid high inflation and a weakening currency. Red Sea crisis
Stickier-than-expected inflation reports headlined the first quarter of economic data, prompting investors to scale back expectations for Federal Reserve interest rate cuts in 2024.