ICYMI: Cheer up, Canadians might get relief from hot inflation sooner than we think — via financialpost Canada inflation
Faced with the hottest inflation in almost 40 years and rising interest rates — not to mention growing recession warnings — Canadians’ confidence is sinking.by the Conference Board of Canada saw consumer confidence fall another 6.6 points in July, after dropping 8.8 points in June.
An average of the three core measures rose by only 0.1 percentage point, the smallest increase in eight months, he said. Commodity prices have fallen almost 20% in the past six weeks, bringing them back to levels seen before the invasion of Ukraine.Article content Globally, demand for goods appears to be easing, reducing pressure on supply chains and bringing down the astronomical freight rates seen during the pandemic. Retail inventories are also climbing.
“Just as inflation has grown — literally — like a weed in the past year, it is entirely possible that it can retreat almost as quickly,” he wrote.
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