Loblaw’s No Name price freeze ends as rival warns of impending cost increases
Synopsis by Global News Jan 31 23
As Canadians faced high prices at the supermarket due to inflation ...Read full article 
Global News: Loblaw’s No Name price freeze ends as rival warns of impending cost increases
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| Last Updated | Jan 31 23 |
| Total Articles | 1 |
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Canada's principal government institution in charge of statistics and census data
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David Rosenberg: Budget 2024 deserves a failing grade and will make the fight against inflation even harder
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How are you tackling rising food prices? We want to hear from you: Amid rising food prices, Canadians continue to brace for inflation as spending and consumption ...
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Canada Inflation Ticks Up to 2.9% on Higher Gas Prices: Canadian consumer prices reaccelerated slightly as expected due to higher gasoline prices ...
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Paid articlePaidQuick Glance: Canadian Inflation Rises Due to Increase in Gasoline Prices
- Canadian consumer prices saw a slight increase, primarily due to higher gasoline prices. Core metrics indicated further progress in disinflation, prompting the central bank to prepare for a shift to looser monetary policy as early as June or July.
- In March, the consumer price index rose by 2.9% compared to the previous year, up from the 2.8% reported a month earlier. Excluding gasoline, the index slowed to 2.8% from the previous year, in contrast to February's 2.9%.
- However, indications of underlying price pressures decreased. The averages of the Bank of Canada's two core measures decreased to an annual rate of 2.95%, weaker than anticipated. Following the release, yields on two-year Canadian government bonds dropped by approximately 10 basis points to 4.18%.
- The March inflation data suggest that the decline in core metrics this year is not temporary. Bank of Canada officials are now waiting to be convinced that the path to the 2% target can be sustained before making adjustments to monetary policy.
Politics Briefing: Inflation rate ticked higher in March, markets bet on June rate cut
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US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
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Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
UK inflation falls as crumpet and meat prices drop: New official figures show that inflation, the rate at which prices rise over time, fell again in March.
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Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
US to grow at double the rate of G7 peers this year, says IMF: Fund also upgrades inflation forecasts as strong demand and tight labour market delay possible Fed ...
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Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
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Quick Glance: Brazil Moves to Relax Fiscal Targets Set a Year Ago
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- Ministers intend to balance the budget next year, replacing the previous goal for income to exceed outgoings by 0.5 per cent of gross domestic product
- Analysts warn that the current deficit targets are unrealistic and likely to be tweaked, prompting investors to express concerns about Brazil’s economic approach under Lula
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America’s interest rates are unlikely to fall this year: That will squeeze financial markets and the world economy
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Business defaults soar as Australian house prices outpace the globe: Australian house prices are out-performing most of the world, even after inflation ...
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How California fast food restaurants raised menu prices in response to $20 minimum wage
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Is it the right time to buy gold or wait as prices continue to soar: Is it the right time to buy gold as prices spiral?
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Why child care costs are soaring: Wages in the industry have risen fast in the last few years — but they're still pretty low.
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UK facing food shortages and price rises after extreme weather: Heavy rain likely to cause low yields in Britain and other parts of Europe ...
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Xi Jinping says China’s exports are helping ease global inflation: Chinese president warns German Chancellor Olaf Scholz against ‘rise of protectionism’
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Joe Biden’s approval rating on the economy is rising among US voters: FT-Michigan Ross poll finds president’s gains could be derailed by persistent fears over ...
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Biden's new take on inflation: Trump would be worse: Biden's team knows there's not a lot it can do to lower it before the Nov. 5 election.
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Quick Glance: Biden's New Perspective on Inflation: Trump Would Be Worse
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- March's inflation increase surpassed expectations, undermining Biden's claim of lowering prices.
- Rising oil prices due to geopolitical tensions could lead to higher gas prices, a concern for the White House.
- Biden emphasizes fighting inflation as top priority while experts debate the impact of his economic stimulus packages.
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Quick Glance: Rising Real Earnings Growth Raises Concerns at Bank of England
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- The broader ONS statistics revealed an increase in the UK's unemployment rate from 3.9% to 4.2%, with caution due to ongoing efforts to enhance the reliability of employment data.
- The forthcoming inflation data expected on Wednesday is likely to demonstrate further progress towards the Bank's objectives and the potential for a decrease from the current 5.25% interest rate.
US and India stoke hopes of global growth in 2024 : FT-Brookings Tiger index shows ‘positive omens’ for modest pick-up compared with last year
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California restaurant will up wages to compete with $20 fast-food pay: "Why wash dishes for $15 or $17 if I can go get $20 flipping burgers at McDonald's ...
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Quick Glance: California eateries adjust wages to meet competition with $20 fast-food pay
- A restaurant owner in California plans to raise wages to compete with the $20 per hour pay for fast-food workers.
- Legislation is expected to drive up wages in various sectors as they strive to attract and retain employees.
- The increased minimum wages worsen the existing challenges faced by independent restaurants in California.
- Implementing price changes, cost-cutting strategies, and reduced operating hours could be potential measures to streamline operations.
March's inflation data had good and bad news about food: It's getting increasingly cheaper to eat at home.
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The Forever Stamp is forever rising in price. How does the U.S. cost compare globally?
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Why the US dollar is setting off alarm bells around the world: Suddenly, tension and uncertainty have gripped financial markets, making them highly volatile.
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More Malaysians seeking jobs in Singapore amid weakening ringgit, inflation: Recruiters
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When will Americans see those interest-rate cuts?: Following a nasty surprise, some now think they may come only after the presidential election
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