In its latest monthly consumer price index (CPI) report, Statistics Canada said grocery prices rose at the fastest rate since 1981, with prices up 10.8 per cent compared with a year ago.
It marks the capital’s lowest unemployment rate since at least March 2001 – the earliest date for which statistics are available.
Bank of Canada senior deputy governor Carolyn Rogers says the journey back to two per cent inflation will take time and a that period of lower economic growth is necessary to bring inflation down.
The inflation rate hit a nearly 40-year-high of 8.1 per cent in June, but economists were widely expecting inflation to have since slowed.
Immigration-fuelled population growth and rising interest rates that have driven up the cost of buying a home helped boost Minto Apartment REIT’s bottom line in the second quarter.
Two Ottawa companies have been selected to participate in the third cohort of the joint accelerator program run by L-SPARK and BlackBerry Ltd.
The agency said its consumer price index in May rose 7.7 per cent compared with a year ago, its largest increase since January 1983 when it gained 8.2 per cent and up from a 6.8 per cent increase in…
The head of the Canadian Urban Institute says there's 'no magic bullet' for the nation's capital to reimagine its long-term direction in the aftermath of the pandemic.
The cost of nearly everything at the grocery store continued to climb higher to push the annual inflation rate up in April.
Atlético Ottawa has dedicated its opening match this Saturday to raise funds for Ukraine, with proceeds from ticket sales donated directly to humanitarian assistance to Ukrainians.