OTTAWA —
Statistics Canada says the annual pace of inflation in Canada jumped 2.4 per cent to start 2020, fuelled by higher costs at the gas pump and pricey tomatoes.
The move compared with a year-over-year increase of 2.2 per cent in December.
Economists had expected a reading of 2.3 per cent for January, according to a poll by financial markets data firm Refinitiv.
Gas prices in January increased 11.2 per cent compared with a year ago as prices rose at the start the month due to concerns about events in the Middle East only to move lower later in the month in response to the novel coronavirus outbreak.
Statistics Canada said Wednesday that excluding gasoline the year-over-year inflation rate would have been two per cent in January.
Costs grew for fresh vegetables by five per cent, largely attributable the agency says to a 10.8 per cent bump in the price of tomatoes stemming from inclement weather in growing regions of the United States and Mexico.
The overall increase in prices of 2.4 per cent compared with a year ago was also driven by increased mortgage interest costs, purchases of passenger vehicles, auto insurance premiums, and a bump in rents.
The increases were partly offset by lower prices for telephone services, internet access, tuition fees and traveller accommodation.
The average of Canada’s three measures for core inflation, which are considered better gauges of underlying price pressures and closely tracked by the Bank of Canada, was 2.033 per cent compared with 2.067 per cent for December.
Regionally, prices on a year-over-year basis rose more in January than December in every province except Ontario and Quebec.
Here’s what happened in the provinces (previous month in brackets):
Newfoundland and Labrador: 2.2 per cent (2.0)
Prince Edward Island: 3.0 (2.3)
Nova Scotia: 2.6 (2.2)
New Brunswick: 2.5 (2.3)
Quebec: 2.7 (2.7)
Ontario: 2.1 (2.1)
Manitoba: 2.5 (2.3)
Saskatchewan: 2.3 (1.6)
Alberta: 3.0 (2.3)
British Columbia: 2.3 (2.1)
The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets):
St. John’s, N.L.: per cent 2.1 (1.8)
Charlottetown-Summerside: 3.1 (2.2)
Halifax: 2.7 (2.2)
Saint John, N.B.: 2.0 (2.2)
Quebec: 2.2 (1.9)
Montreal: 2.7 (2.8)
Ottawa: 2.6 (2.7)
Toronto: 1.6 (1.9)
Thunder Bay, Ont.: 1.3 (1.0)
Winnipeg: 2.5 (2.5)
Regina: 2.4 (1.7)
Saskatoon: 2.1 (1.5)
Edmonton: 2.7 (2.3)
Calgary: 2.8 (2.1)
Vancouver: 2.2 (1.9)
Victoria: 2.1 (2.1)
This report by The Canadian Press was first published Feb. 19, 2020
TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.
The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.
The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.
The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.
Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.
Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.
This report by The Canadian Press was first published Nov. 6, 2024.
TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.
The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.
Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.
Consolidated comparable sales were up 0.3 per cent.
On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.
The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.
The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.
Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.
Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.
On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.
The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
