Inflation slows again in April, raising hope for rate cut

/in /by

Make sure to circle June 5 on your calendar after Statistics Canada’s latest figures show inflation continues to slow down. The Consumer Price Index for April rose by 2.7%, compared to 2.9% in March. If you take gas prices out of the equation, the CPI was actually down to 2.5% in April.

“April’s CPI report adds weight to the thesis that interest rate cuts will begin in June,” the Conference Board of Canada said about the Bank of Canada’s next interest rate announcement on June 5. “On balance, signs suggest that June remains ‘within the realm of possibilities’ for the Bank’s first rate cut.”

Sticky inflation and high interest rates discourage investment, slowing the economy and adding to uncertainty.

Online tool tracks ongoing changes to grocery prices

/in /by

It’s been the hot-button topic for so long, it’s easy to forget just how much inflation has forever changed the cost of household budgeting.

An online tool can help track exactly how much individual goods have changed in price. The Average Retail Food Prices Data Visualization Tool is helpful to show the price increase or decrease for 105 typical grocery items. For example, the cost for one kilogram of chicken breast in BC was $18.18 in March compared to $16.71 a year earlier. Meanwhile, a 454 gram block of butter was $6.08 in March — down from $6.45 in the same month in 2023.

In BC, the item that saw the largest increase in price over the last year is infant formula, which is up 24% year over year.

Our Partners

Get in touch –

Visit us at 201C – 633 Courtney St. Victoria, BC V8W 1B9

chamber@victoriachamber.ca

We are still experiencing challenges with our phones, visit our Staff Directory to connect with us directly.

The Chamber

Connect
Membership
Advocate

About
Member Directory
Media

Copyright © 2024 Greater Victoria Chamber of Commerce. All rights reserved.

Website by Caorda