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Inflation Rate Hits 8.1% In June

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Canada’s inflation rate skyrocketed to a nearly 40-year high of 8.1 per cent in June.

Statistics Canada says that is an increase from the 7.7 per cent gain recorded a month earlier.

“The acceleration in June was mainly due to higher prices for gasoline,” the agency said Wednesday.

Figures show consumers paid 54.6 per cent more for gasoline in June compared to the same time last year.

On a month-over-month basis, prices at the pump rose 6.2 per cent in June, following a 12 per cent increase in May.

“Gas prices largely followed crude oil prices, which peaked in the first week of June with higher global demand amid the easing of COVID-19 public health restrictions in China, the largest importer of crude oil,” said Statistics Canada.

“Crude oil prices eased in the remaining weeks of June amid slowing demand worldwide related to concerns of a global economic slowdown.”

Passenger vehicle prices rose by 8.2 per cent as demand continued to outpace supply due to the ongoing semi-conductor shortage.

On a monthly basis, prices rose 1.5 per cent in June, compared to 0.1 per cent in May, due in part to the higher availability of new model-year vehicles.

Food prices were up by 8.8 per cent in June, similar to the year-over-year increase recorded in May.

Higher demand for travel-related services has been seen with the eased public health measures and increased tourism.

Prices for accommodation across the country rose by nearly 50 per cent compared to this time last year.

“The return of sporting events, festivals and other large in-person gatherings has resulted in higher demand for accommodation, particularly in major urban centres,” said the report.

Prices for air transportation rose 6.4 per cent month over month in June, following a 0.8 per cent decline in May.

Air travel has continued to increase amid loosening COVID-19 public health restrictions, with pent-up demand heading into the summer travel season putting upward pressure on prices,” said Statistics Canada.

Overview by province:

  • Prince Edward Island – 10.9%
  • Manitoba – 9.4%
  • Nova Scotia – 9.3%
  • New Brunswick – 9.1%
  • Alberta – 8.4%
  • Newfoundland and Labrador – 8.2%
  • Saskatchewan – 8.1%
  • Quebec – 8.0%
  • British Columbia – 8.9%
  • Ontario – 7.9%

More details are available by clicking here.

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Inflation Hits Three-Decade High Of 6.8%

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Canada’s inflation rate hit a new three-decade high of 6.8 per cent in April, up slightly from 6.7 per cent recorded a month earlier.

Statistics Canada said Wednesday that the year-over-year increase was largely driven by food and shelter prices.

“Gas prices increased at a slower pace in April compared with March, moderating the acceleration of the all-items Consumer Price Index (CPI) in April,” the agency said.

The price of groceries climbed by 9.7 per cent in April, the largest year-over-year increase since September 1981.

Basics, such as fresh fruit, fresh vegetables and meat, were all more expensive in April compared with a year earlier.

Prices for starchy foods such as bread, pasta, rice and cereal products also increased, along with the price of your cup of coffee.

Statistics Canada said the recent period of higher food prices has happened as numerous events continue to fuel higher prices.

“With both countries being major wheat exporters, Russia’s invasion of Ukraine in late February put upward price pressure on food products that use wheat. Poor weather in growing regions has also impacted prices for food,” said the agency.

“Additionally, higher prices for inputs such as fertilizer and natural gas continued to increase the cost of production for farmers, who have passed some of these costs on to consumers.”

Shelter costs rose by 7.4 per cent year over year in April, the fastest pace since June 1983.

Higher prices for energy sources used to heat homes, such as natural gas and fuel oil and other fuels, contributed to the increase.

Gasoline prices were up by 36.3 per cent year over year in April, but fell slightly on a month-to-month basis compared to March.

From a province-to-province comparison, Prince Edward Island saw the highest inflation rate at 8.9 per cent, followed by New Brunswick (7.6 per cent), Manitoba (7.5 per cent), Nova Scotia, (7.1 per cent) and Ontario (6.9 per cent).

Quebec (6.8 per cent), British Columbia (6.7 per cent), Newfoundland and Labrador (6.6 per cent), Alberta (6.3 per cent) and Saskatchewan (5.9 per cent) all saw their inflation rates fall below the national average.

You can find the latest inflation report from Statistics Canada by clicking here.

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Inflation Rate Hits 31-Year High

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Canada’s inflation rate reached a new 31-year high of 6.7 per cent in March.

That is a full percentage point higher than the 5.7 per cent gain we saw in February.

Statistics Canada said it was the fastest year-over-year increase since January 1991.

“Inflationary pressure remained widespread in March, as prices rose across all eight major components,” the agency said in its monthly report.

“Prices increased against the backdrop of sustained price pressure in Canadian housing markets, substantial supply constraints and geopolitical conflict, which has affected energy, commodity, and agriculture markets.

Gasoline prices rose 39.8 per cent while prices for fuel oil and other fuels rose 61 per cent.

Shoppers paid nearly nine per cent more for food purchased from stores — the largest year-over-year increase since March 2009.

Prices for dairy products and eggs rose 8.5 per cent, while prices for pasta products were up 17.8 per cent.

Consumers also saw a 7.3 per cent jump in prices for durable goods — the biggest increase in 40 years — led by passenger vehicles and furniture.

Broken down by province, Prince Edward Island saw the biggest increase in inflation at 8.9 per cent, followed by New Brunswick and Manitoba (7.4 per cent), Ontario (seven per cent) and Nova Scotia (6.8 per cent).

You can find the full report online by clicking here.

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Inflation Hits 5.7% In February

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Canada’s inflation rate jumped to 5.7 per cent in February, up from 5.1 per cent a month earlier.

Statistics Canada announced Wednesday that it was the largest gain recorded in more than 30 years.

“Price increases were broad-based in February, pinching the pocketbooks of Canadians,” the agency said in its report.

Motorists paid 32.3 per cent more at the fuel pumps compared to the same time last year.

It comes amid geopolitical conflict in Eastern Europe and the Middle East as uncertainty surrounding global oil supply put upward pressure on prices.

Grocery prices rose by 7.4 per cent, the largest yearly increase recorded since 2009.

“Higher input prices and heightened transportation costs continued to contribute inflationary pressure in February,” said Statistics Canada.

Shelter costs also rose in February at their fastest pace since 1983, climbing by 6.6 per cent.

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Economy Returned To Pre-COVID Levels In November: StatCan

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Canada’s economy grew in November for the sixth consecutive month, but early indications from Statistics Canada show it stalled in December.

The agency said Tuesday that real gross domestic product rose by 0.6 per cent in November.

Statistics Canada said that pushed the GDP above pre-pandemic levels by 0.2 per cent.

“Both services-producing and goods-producing industries were up, as 17 of 20 industrial sectors posted increases in November,” said the agency.

Meanwhile, preliminary data suggests the economy was “essentially unchanged” in December, bringing growth for the full year to 4.9 per cent.

“Widespread increases led by the manufacturing, agriculture, forestry, fishing and hunting, utilities and wholesale trade sectors were offset by declines in the accommodation and food services, mining, quarrying, and oil and gas extraction and retail trade sectors,” said Statistics Canada.

The finalized numbers for December and 2021 as a whole will be released in March.

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Pandemic Impacting Gas Sales

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It’s another sign of the economic impact of the pandemic.

Gasoline sales hit a 20-year low in 2020, falling an average of 14 per cent across the country.

Statistics Canada says with many people working from home, they weren’t using their vehicles as often.

Travel restriction were also a factor.

Ontario recorded the largest decline, with gross sales falling 18 per cent.

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Border Traffic Remains Low

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Border traffic continues to be impacted by ongoing restrictions, now extended another month to June 21st.

The latest numbers from Statistics Canada show about three thousand Canadians and 550 Americans still made it across in April at crossings at Pigeon River, Fort Frances and Rainy River.

Most passed the border at Fort Frances where over 1,500 Canadians and 300 Americans were eligible to pass.

Only travellers crossing for essential reasons, like work or school,

Fifteen hundred Canadians and 300 Americans were able to pass through at Fort Frances in April.

Another 970 Canadians and 82 Americans entered at Rainy River.

Only travellers crossing for essential reasons are permitted to pass but are subject to quarantine requirements.

The Pigeon River crossing saw 970 Canadians and 80 Americans who were permitted to enter northwestern Ontario.

The numbers at all of the border crossings are about 90 to 95 per cent of what they were before the pandemic.

 

 

Courtesy Statistics Canada

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StatsCan Hiring Census Workers

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Statistics Canada still has its help wanted sign up.

It’s looking for temporary workers to follow up with individuals who failed to complete this year’s Census online.

Ontario Regional Director Nancy Guarino says they have jobs available throughout northwestern Ontario that need to be filled.

“For the Canadians who don’t respond right away but might need a reminder, or might need help, we will offer that help, and we’re hiring a workforce to do just that,” she explains.

You can visit the Census page on the Statistics Canada website to file a job application.

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Inflation Rises To 1% In January

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Statistics Canada says the consumer price index rose by one per cent in January on a year-over-year basis.

The national agency said that is up from a year-over-year increase of 0.7 per cent recorded in December.

StatCan says the acceleration was largely due to higher prices for durable goods and rising gasoline prices.

Gasoline prices rose for the second consecutive month, up just over six per cent in January compared with December.

If you exclude gasoline, inflation rose by 1.3 per cent in January, up from a one per cent increase in December.

Passenger vehicle prices rose at a faster pace in January compared to December while meat and fresh vegetable prices slowed.

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Employment Growth Slows Across Canada: StatCan

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Employment growth across Canada is slowing as new COVID-19 restrictions are implemented in parts of the country, according to Statistics Canada.

After adding 378,000 jobs in September, the country saw growth of just 84,000 in October, keeping the unemployment rate steady at 8.9 per cent.

Most of the employment increase in October was in full-time work, which rose by 69,000. The number of people working part-time was virtually unchanged, said the agency.

“Employment increases in several industries were partially offset by a decrease of 48,000 in the accommodation and food services industry, largely in Quebec,” the agency said Friday.

In fact, it StatCan said it was the first time since April that employment declined in the accommodation and food services industry.

Several industries saw employment exceed February levels last month, including professional, scientific and technical services; wholesale trade; and educational services.

StatCan said the number of unemployed Canadians remains at around 1.8 million, which is about 683,000 above pre-COVID levels in February.

Employment levels were closest to their pre-COVID February levels in Newfoundland and Labrador, Manitoba and New Brunswick.

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