Food inflation ticked higher in May for the first time in nearly a year.
Statistics Canada reported Tuesday that grocery prices rose 1.5 per cent in May, slightly higher than in April when they rose 1.4 per cent.Overall, food prices in Canada are up 22.5 per cent since May of 2020.
A new survey by Lightspeed Commerce Inc. found rising food prices have many Canadians changing their dining out behaviour — from tipping less to seeking out happy hour specials.OTTAWA — Bank of Canada governor Tiff Macklem is sounding the alarm on Canada’s productivity problem and urging policymakers to dig into why the country struggles with low business investment.
Given how low last year's inflation was, CPI data might rebound in the latter half of this year. That could mean further rate hikes, Rob Arnott said.Finance Minister Chrystia Freeland says Canada is investigating whether to impose a surtax on imports of Chinese-made electric vehicles. She says a 30-day consultation on the issue will begin July 2 to counter what she says is a clear effort by Chinese companies to generate a global oversupply of EVs.
-- US regulators have authorized a pilot program for housing giant Freddie Mac to buy second mortgages, a shift that could ultimately make it cheaper for households to borrow against the equity in their homes. Most Read from BloombergJain Global Raises $5.
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