Inflation

The Bank of Canada says food inflation is likely to remain high through the second half of the year as the war in Iran pushes the cost of fuel and farming higher.

Gas prices are ticking upwards across much of Canada on Wednesday, anywhere from 5 to 10 cents per litre depending on where you’re located across the country, according to gas price analysts.

U.S. inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while underlying price pressures also cooled more than expected.

Air fares aren’t coming down, Delta Air Lines said Friday, even though the cost of jet fuel has fallen sharply.

A U.S. Federal Reserve rate-setting committee agreed to keep its key rate unchanged at its meeting last month, though most officials were split over whether inflation is likely to stay elevated or whether it will cool once the Iran war winds down, according to minutes released Wednesday.

Canadians continue to hop on board airplanes this summer even as ticket prices remain well above where they were last year — despite a recent drop in fuel costs.

Eligible Canadians will find a bit more cash in their bank accounts starting today as quarterly payments begin for the federal Liberals’ boosted affordability benefit.

Tens of thousands of Islanders will soon receive new affordability payments, as grocery bills and other household costs continue to put pressure on people across P.E.I.

A new survey of Canadian renters says affordability concerns continue to far outweigh all other rental market challenges even after nearly two years of declines in asking prices.

The Bank of Canada says feedback from stakeholders suggests there is strong support for its flexible inflation targeting and the two per cent target rate.

The Canadian dollar has steadily fallen over the past several weeks to trade around the 70 cents US mark as it finds itself caught between a weak domestic economy and strong demand for the U.S. dollar.

Gas and diesel prices have, in recent weeks, increased and decreased in Canada and around the world, as the United States and Iran inch closer to a final peace deal in a war that began in February.

Groceries were up 4.3% compared with a year ago. That’s the 16th month in a row that food has risen faster than inflation overall, a streak that has steadily eaten into household budgets.

Inflation accelerated to its highest level in more than two years in May as price pressures from the war in Iran started to crop up outside the gas pumps.

Statistics Canada released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples