The first increase in annual inflation since its peak in June 2022 was driven in part by higher mortgage interest costs and rent prices, Statistics Canada says
OTTAWA — The first increase in annual inflation since its June 2022 peak was driven in part by higher mortgage interest costs and higher rent prices, Statistics Canada said Tuesday.
Mortgage payments have spiked as Canadians are forced to renew mortgages at current high interest rates, he said. According to Rentals.ca, average advertised rental prices in April were up 20 per cent from pandemic lows in April 2021. Average rents across Canada were up 9.6 per cent compared with April 2022.
The Bank of Canada has been aggressively hiking interest rates in order to tame high inflation. Yet, in a paradoxical twist, higher interest rates have pushed up housing costs, contributing to higher inflation this month.
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.
Rents surged higher in April: ‘Virtually every area in Canada is experiencing an increase’In April, Ottawa rents climbed 15-per-cent year over year, while Edmonton saw an 11.8-per-cent climb and Montreal logged a 10.7-per-cent increase
Lire la suite »
Inflation ticks higher in April, testing Bank of Canada rate pauseStatistics Canada says the annual rate of inflation rose to 4.4 per cent in April, up from 4.3 per cent a month earlier
Lire la suite »
Rent, mortgage interest helped drive inflation higher in April: Statistics CanadaThe first increase in annual inflation since its June 2022 peak was driven in part by higher mortgage interest costs and higher rent prices, Statistics Canada said Tuesday.
Lire la suite »
Rent, mortgage interest helped drive inflation higher in April: Statistics CanadaThe first increase in annual inflation since its June 2022 peak was driven in part by higher mortgage interest costs and higher rent prices, Statistics Canada said Tuesday.
Lire la suite »
Rents surge higher in April: ‘Virtually every area in Canada is experiencing an increase’In April, Ottawa rents climbed 15-per-cent year over year, while Edmonton saw an 11.8-per-cent climb and Montreal logged a 10.7-per-cent increase
Lire la suite »
Annual inflation rate edged up in April, raises chances of higher interest ratesOTTAWA — The annual pace of inflation rose in April for the first time since it peaked in June last year, a move some economists say will test the Bank of Canada's decision to pause hiking interest rates if the economy does not cool as expected later
Lire la suite »