Here’s where Canadians are spending less amid high inflation, interest rates
“This sluggishness in spending should help keep goods price inflation under control , allowing the Bank of Canada to stay on hold for the remainder of this year before gradual cuts start early in 2024,” Grantham said.
The annual rate of inflation in Canada dropped to 4.3 per cent in March, but grocery prices climbed 9.7 per cent on a year-over-year basis, Statistics Canada said Tuesday. For February, retail sales were down in four of the nine subsectors as sales at gasoline stations and fuel vendors fell 5.0 per cent for the month and general merchandise retailers lost 1.6 per cent.Meanwhile, sales at motor vehicle and parts dealers rose 0.9 per cent in February.
Core retail sales – which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers – increased 0.1 per cent helped by a 4.4 per cent gain in sales at clothing, clothing accessories, shoes, jewelry, luggage and leather goods retailers.“Consumers are picking are choosing where they cut spending,” Winder said. “More companies are quietly nudging workers back into the office, so that could be helping spending in some areas.
In volume terms, a measure that adjusts for the impact of inflation, overall retail sales fell 0.7 per cent in February.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Carbon emissions are costing Canadians 5 times what Ottawa once thought: minister - National | Globalnews.caEnvironment Minister Steven Guilbeault said the government used updated scientific knowledge and economic models to revise its evaluation of how much climate change costs.
Lire la suite »
Canadians in Sudan must shelter in place as evacuations ‘impossible’: Joly - National | Globalnews.caJoly's comments came after the Pentagon confirmed that 'additional capabilities' were being deployed nearby in the region for contingency purposes, including potential evacuation.
Lire la suite »
Canadian premiers to discuss bail reform with police chiefs amid calls for change - National | Globalnews.caManitoba Premier Heather Stefanson says premiers aim to hear chiefs' public-safety concerns and their perspectives on how Ottawa should amend federal law.
Lire la suite »
Trudeau’s reported NATO remarks a setback for U.S.-Canada ties: former envoy - National | Globalnews.caA Washington Post report says Trudeau privately told NATO officials that Canada would never meet the military alliance's spending target of two per cent of GDP.
Lire la suite »
Russia accidentally bombs own city near Ukraine border - National | Globalnews.caMilitary experts have noted that as the number of Russian military flights have increased sharply during the fighting, so have the crashes and accidents.
Lire la suite »
U.S. Supreme Court faces self-imposed deadline to vote on abortion pill access - National | Globalnews.caMifepristone has repeatedly been found to be safe and effective, and has been used by more than 5 million women in the U.S. since the FDA approved it in 2000.
Lire la suite »