Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada reported today that the country’s annual inflation rate dipped to 2.2 per cent in October, compared to 2.4 per cent in September. Grocery prices dropped by 0.6 per cent, their biggest monthly drop in five years, while fuel retailers switched to cheaper winter gasoline blends. Meanwhile, cellular service costs grew 7.7 per cent, their first monthly price hike since April 2023. Despite the drop in the annual inflation rate, it was still higher than many analysts expected.
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Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally. – The…
– The House of Commons will vote on the Liberal government’s budget on Monday evening, which will also serve as a confidence vote. The budget, which was tabled last month, contains billions of dollars in new spending and cuts to the public service. The Liberals either need a handful of votes or abstentions, likely from the New Democrats, to pass the vote. Otherwise, it will trigger a December snap election.
– The Canadian Real Estate Association reported on Monday the national average sale price of a home sold in October was C$690,195, down 1.1 per cent from last year. Meanwhile, there were 42,068 home sales in October, up 0.9 per cent from September but down 4.3 per cent from the year before. There were also 189,000 properties listed for sale across Canada at the end of October, up 7.2 per cent from last year. New listings in October were up 1.4 per cent from September.
