As food inflation stays hot, here’s a look at how much items cost

OTTAWA – Canada’s inflation rate fell from its near 40-year high of 8.1 per cent in June to 7.6 per cent in July, Statistics Canada said Tuesday. The easing was largely attributable to gas prices, which have dropped in recent weeks, but similar relief has not extended to food costs. The latest consumer price index …

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Here’s a list of July inflation rates for selected Canadian cities

OTTAWA – Canada’s national annual inflation rate was 7.6 per cent in July, Statistics Canada says. The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets): — St. John’s, N.L.: 6.5 per cent (7.5) — Charlottetown-Summerside: 9.9 …

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UK inflation hits highest level since 2008 as food bills rise

Inflation on the weekly supermarket shop has hit a record level in the UK, pushing cash-strapped consumers to buy own-label products as they grapple with the surging cost of living. Grocery price inflation hit 11.6 per cent in the past four weeks, the highest level since Kantar started tracking the data in 2008, according to …

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Statistics Canada to release July inflation reading this morning

OTTAWA – Statistics Canada is expected to release July’s inflation data this morning. Economists believe the inflation rate may have already peaked given the recent drop in gas prices, which fuelled May and June’s inflation reading. RBC is forecasting the year-over-year inflation rate fell from a nearly 40-year high of 8.1 per cent in June …

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Securities regulators push for further crypto trading platform commitments

TORONTO – The Canadian Securities Administrators (CSA) says crypto trading platforms are now expected to make certain commitments that address investor protections while their registration applications are being reviewed. The umbrella organization of provincial securities regulators says Crypto.com and Coinsquare Capital Markets Ltd. are the first to submit the pre-registration undertakings. The CSA says provincial …

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Canadian Pacific Railway reaches collective agreement with 3,000 workers

CALGARY – Canadian Pacific Railway Ltd. says it has signed a two-year collective agreement with about 3,000 union members. The new deal comes out of binding arbitration amid concerns over a pressing labour shortage throughout the Canadian transport sector. The agreement applies to about 3,000 CP Rail locomotive engineers, conductors and yard workers represented by …

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Turquoise Hill shares down after special committee rejects Rio Tinto offer

TORONTO – Shares of Turquoise Hill Resources Ltd. were down more than 10 per cent after the company’s special committee of independent directors said an offer by Rio Tinto International Holdings Ltd. to buy the shares in the company it does not already own is too low. The special committee says Rio Tinto’s offer of …

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S&P/TSX composite down nearly 100 points, U.S. stock markets also in the red

TORONTO – Canada’s main stock index was down nearly 100 points in late-morning trading as the price of oil fell and the energy and base metal sectors pulled back. The S&P/TSX composite index dropped 94.96 points to 20,084.85. In New York, the Dow Jones industrial average was down 19.10 points at 33,741.95. The S&P 500 …

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Ontario Teachers’ Pension Plan earned 1.2 per cent in first six months of 2022

TORONTO – Ontario Teachers’ Pension Plan Board says it earned a total-fund net return of 1.2 per cent for the first half of this year. Ontario Teachers’ chief executive Jo Taylor says the result for the six-month period came during a tumultuous time for global markets and with the highest inflation rates in decades. The …

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Canadian home sales fall for fifth month in a row, down 29% from last July: CREA

TORONTO – The Canadian Real Estate Association found home sales fell for the fifth consecutive month between June and July. On a seasonally adjusted basis, the association said sales in July fell 5.3 per cent compared with June. The actual number of sales last month was 37,975, down 29 per cent compared with July last …

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