Back-to-school shoppers expected to head back to stores but pull back on spending Annual shopping ritual comes as rising costs for food and housing squeeze optional spending plans for many households Statistics Canada reports retail sales up 0.1% in June at $65.9 billion Food and beverage retailers saw a drop of 0.9% Inspection agency finds four more fields with potato wart in P.E.I., completes probe Disruption cost the Island's potato industry more than $50 million in revenue 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 Economy grew in May despite wildfire effects, looks to have slowed in June: StatCan That modest growth is unlikely to hold, as the federal agency's preliminary estimate for June suggests the economy contracted by 0.2% 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 First Previous 17 18 19 20 21 Next Last
