Economy contracts in second quarter as higher interest rates take hold Economy contracted at an annualized rate of 0.2% in the second quarter Canada's inflation rate rose to 3.3% in July, StatCan reports Grocery prices rose 8.5% on an annual basis Unemployment rate ticks up to 5.5% in July as job creation lags population growth July marks the third consecutive month that the unemployment rate has risen, signalling some loosening in the labour market Consumer spending to soften in second half of 2023: Canadian Chamber of Commerce Consumer spending will likely slow noticeably in the second half of the year as people cut back on discretionary purchases Canada's inflation rate tumbles to 2.8% in June even as grocery prices remain high Grocery prices rose 9.1% year-over-year, slightly faster than in May BoC raises key interest rate to 5%, expects slower return to inflation target Forecasters were widely anticipating the central bank to raise rates as the economy continues to run hotter than expected Rising interest rates and the silent hunger The disturbing link between Canada's housing crisis and food insecurity Canada's inflation rate falls to 3.4% last month, lowest rate since June 2021 Grocery prices were still skyrocketing last month, rising 9% from last May Bank of Canada raises key interest rate as it tries to get ahead of hot economy The central bank's key interest rate now sits at 4.75%, the highest it's been since 2001 Feds finalize Visa, Mastercard agreements lowering fees for small businesses The reductions will come into effect in fall 2024 First Previous 8 9 10 11 12 Next Last
