Canada’s annual inflation eased to 1.7% in July, helped by falling gasoline prices, raising hopes of a potential Bank of Canada rate cut in September.
Statistics Canada reported that July’s consumer price index (CPI) rose 0.3% month-on-month, slightly above June’s 0.1%, while the annual inflation rate slowed from 1.9% to 1.7%.
Gasoline prices dropped 16.1% year-on-year, aided by higher oil output and the removal of the carbon levy, easing pressure on the CPI.
Core inflation, excluding volatile items like gasoline, increased 2.5% in July, with the three-month average of core measures falling to 2.4%, the lowest since September last year.
Economists view this as a signal that the Bank of Canada may consider a rate cut if the trend continues.
Rising costs in food and shelter partially offset gains from falling fuel prices. Food prices rose 3.3% year-on-year, while shelter costs, the largest CPI component, increased 3% in July.
Following the inflation report, the Canadian dollar dipped 0.23%, and two-year government bond yields fell to 2.704%. Money markets now price a 40% chance of a rate cut at the 17 September Bank of Canada meeting.
Indian police detained more than 2,000 protesters in Delhi on Saturday as authorities blocked a planned demonstration calling for the resignation o...
A powerful explosion has been reported at King Khalid International Airport in Riyadh, raising fresh concerns over aviation security in Saudi Arabi...
At least 12 people, including three children, have been killed in a Russian attack on the Ukrainian city of Zaporizhzhia, a day after U.S. Presiden...
Leaders of countries from the Commonwealth of Independent States (CIS) have agreed to hold coordinated population censuses around 2030. They took the decision at the CIS Council of Heads of State meeting in Awaza, Turkmenistan on Friday, media reported.
A powerful explosion has been reported at King Khalid International Airport in Riyadh, raising fresh concerns over aviation security in Saudi Arabia as tensions across the region continue to escalate.
Britain and Israel have reached a temporary compromise over the future of the British Consulate General in East Jerusalem, easing a diplomatic dispute that had threatened to further strain relations between the two countries.
South African judge Navanethem “Navi” Pillay won the Nobel Peace Prize on Friday “for her efforts to promote peace and international law,” the Norwegian Nobel Committee said.
The U.S. has imposed sanctions on the International Criminal Court (ICC) on Friday (9 October) escalating tensions with European allies and potentially targeting companies that provide services to the tribunal. The move came hours after former ICC judge Navi Pillay won the Nobel Peace Prize.
Uzbekistan and Russia have a portfolio of more than 200 joint projects worth almost $6 billion, as the two countries continue to expand regional and business ties. The projects were discussed during the third meeting of the Council of Regions of Russia and Uzbekistan, held in Fergana, Uzbekistan.
In the marshlands of Malluba in southern Azerbaijan, Kamil Mammadov follows a routine that has been passed down through generations. His family has worked with medicinal leeches for centuries, harvesting and breeding a species known as Hirudo orientalis, or the Caucasian medicinal leech.
Baku is hosting the second Azerbaijan International Investment Forum (AIIF 2026) and it’s attracting more interest this year, Azerbaijan’s Deputy Prime Minister told AnewZ. “The agenda is very impressive. More guests, more interest,” he said.
Warren Buffett has stepped down as chairman of Berkshire Hathaway, marking the end of one of the most influential leadership tenures in corporate history and completing a succession process that has been years in the making.
Nigerian billionaire Aliko Dangote launched Africa's biggest-ever share sale on Monday, opening the oil refinery that has remade the country's fuel market to public ownership for the first time.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment