Canada’s annual inflation rate has reached the central bank’s two per cent target for August, but many consumers in Alberta are still feeling the pinch of high costs for shelter, rents and mortgages.
The ease of price pressures was primarily helped by a drop in the prices of gasoline, telephone services, clothing and footwear, but mortgages and rents continue to cool at a tepid pace, maintaining their relentless rise.
“I fully understand that there is bound to be increases in rent but, as a low-income individual in an affordable low-income building, and according to affordable housing guidelines, I should not be paying more than 30 per cent of my income. With this rent increase, I was be required to pay 69 per cent of my income.”
"All of those costs have gone up, things like lawn care, repairs, snow shovelling, that kind of thing and we hear it all the time from landlords who are just saying, you know, 'my rents are up, but wow, condo fees have doubled too,'” he said. “A lot of landlords will also have to shop around a lot for mortgage rates as the inflation rates have changed a little bit lately, and so have the mortgage rates.ATB Financial Chief Economist Mark Parsons says the latest data released Tuesday is now fueling hopes for a 50 basis point interest rate cut by the Bank of Canada next month.
The consumer price index posted its smallest rate of increase since February of 2021 and the closely watched core price measures also cooled to their lowest levels in 40 months according to Statistics Canada. Mounties on Vancouver Island are warning people to lock their doors after a Nanaimo-area family was robbed of a high-end vehicle, cash, a computer and other merchandise while they slept.Vancouver Canucks forward Dakota Joshua revealed Tuesday he underwent cancer treatment over the summer, and will not be ready to play when the team’s training camp begins later this week.A former B.C.
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