Inflation Rate Slows To 2.8 Percent but Groceries Remain Costly
Grocery prices were up 9.1 per cent year over year in June, compared to a nine per cent increase in May.
Grocery prices were up 9.1 per cent year over year in June, compared to a nine per cent increase in May.
Statistics Canada said the increase brought the rate to its highest level since February 2022. It also marked the second month in a row that the country’s unemployment rate went up following a similar increase in May.
Officials said higher rent prices and mortgage interest costs contributed the most to the year-over-year increase.
The country’s GDP climbed just 0.1 per cent, following a 0.6 per cent increase in January
“On a year-over-year basis, Canadians paid more in mortgage interest costs, which was offset by a decline in energy prices,” StatCan said in its monthly report released Tuesday.
Statistics Canada said Friday that the country’s real GDP rose 0.5 per cent in January. That followed a slight 0.1 per cent contraction the economy recorded in December.
Canada’s economy added just 22,000 jobs last month following increases of 69,000 in December and 150,000 in January.
The country’s unemployment rate remained at five percent as more people joined the labour force.
One in five residential property owners in New Brunswick are investors who own multiple properties. In Nova Scotia, it’s one in four.