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But prices spiked in the pandemic, and the annual inflation rate reached a 40-year high of 9.1% in mid-2022. The Fed stepped in, raising interest rates dramatically in 2022 and 2023 to cool the ...
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]
And in October, that financial foundation was indeed strong for the economy-powering consumer: Personal income shot up 0.6%, the largest monthly increase since March; and disposable income (income ...
Annual inflation increased to 8.3% in August 2022, in part due to rising grocery prices. [154] In September, the Fed increased the interest for a fifth time in the year reaching a 14-year high. [155] In November 2022, the year-over-year inflation rate was 7.1%, the lowest it has been since December 2021 but still much higher than average. [156]
The IMF concluded that "Canada runs the highest risk of mortgage defaults among advanced economies" in their June 2023 report comparing 38 countries. [70] Canada's residential housing stock was valued at 3.1 times GDP in 2023 after peaking in 2022. [71] By October 2023, housing sales had slowed (-17% compared to pre-pandemic) while prices ...
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October 6, 1967 Greatest Snowfall in one season* 2,446.5 centimetres (963.2 in) [4] Mount Copeland, British Columbia: 1971–1972 Greatest Snowfall in one day: 145 cm (57 in) [5] Tahtsa Lake, British Columbia: Feb 11, 1999 Highest Humidex reading: 52.6 C (126.7 F) [6] Carman, Manitoba: July 25, 2007 Lowest Wind chill reading-78.9 C (-110 F) [7 ...