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Canada’s annual pace of inflation rose in April: StatCan

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OTTAWA –

The annual pace of inflation rose in April for the first time since it peaked in June last year, a move some economists say will test the Bank of Canada’s decision to pause hiking interest rates if the economy does not cool as expected later this year.

Statistics Canada said Tuesday its consumer price index was up 4.4 per cent compared with a year ago, up from a year-over-year increase of 4.3 per cent in March.

It was the first tick higher in the annual rate since it peaked at 8.1 per cent in June 2022.

Tuan Nguyen, an economist with accounting and consultancy RSM Canada, said the April inflation reading came in much hotter than expected, putting more pressure on the Bank of Canada to reassess its rate pause strategy.

“Our base case remains that the Bank of Canada will continue to pause at the June meeting, but of course the probability of a rate hike is increasing,” he said.

Nguyen said he expects a change in the Bank of Canada’s tone in its rate decision next month and added that he thinks rate cuts later this year are off the table, based on the latest inflation report.

The Bank of Canada has forecast that the annual inflation rate will come down to about three per cent in the coming months, but suggested that a return to its target of two per cent will take longer.

Bank of Canada governor Tiff Macklem has said that if the central bank starts to see signs that inflation is likely to get stuck materially above its two per cent target it is prepared to raise rates further.

The central bank’s key interest rate has been on hold at 4.5 per cent, but its governing council considered raising rates last month before deciding to remain on pause.

The bank’s next interest rate decision is set for June 7, ahead of the May jobs report from Statistics Canada on June 9.

Leslie Preston, managing director and senior economist at TD Bank, wrote in a report that cooler inflation for demand-sensitive services inflation, or “supercore,” was the most encouraging development of the inflation report, even though it was somewhat offset by hotter inflation for goods.

Preston wrote that this reinforces the challenge Macklem has talked about in bringing inflation all the way back to the central bank’s two per cent target.

“This suggests that the BoC needs to remain vigilant to inflation pressures, and may need to hike again if momentum in the domestic economy does not cool as expected,” Preston wrote.

Statistics Canada said the increase in inflation for April was driven by higher mortgage interest costs which were up 28.5 per cent compared with a year ago as new homebuyers and those renewing mortgages faced higher interest rates. A 6.1 per cent increase in rent prices also helped push the overall rate up.

Grocery prices, which have been closely watched, were up 9.1 per cent compared with a year ago, but that increase was smaller than the 9.7 per cent year-over-year jump in March.

Prices for fresh vegetables in April were up 8.8 per cent on a year-over-year basis compared with a 10.8 per cent gain in March, while coffee and tea prices increased 6.4 per cent year-over-year compared with 11.1 per cent in March.

Gasoline prices in April were down 7.7 per cent compared with a year earlier when prices were higher due in part to Russia’s of Ukraine. However, gasoline prices in April rose 6.3 per cent compared with March, the largest monthly increase since October 2022.

Despite the increase in the overall annual rate of inflation, the average of the three core measures of inflation that are tracked by the Bank of Canada came in at 4.70 per cent for April, down from 4.97 per cent in March.

This report by The Canadian Press was first published May 16, 2023.

 

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CF Montreal clinches MLS playoff berth with 2-0 win over New York City FC

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MONTREAL – CF Montreal is heading to the Major League Soccer playoffs after an impressive late-season turnaround.

Caden Clark scored a goal and set up another as Montreal defeated New York City FC 2-0 on Saturday, clinching a post-season berth on the final matchday of the regular season.

Josef Martinez also scored with Montreal (11-13-10) needing at least a draw in the Decision Day matchup to guarantee its spot in front of 19,619 at Saputo Stadium.

Montreal climbed to eighth in the Eastern Conference and will host Atlanta United in the wild-card matchup on Tuesday. The winner will take on Lionel Messi and first-place Inter Miami CF in the first round.

NYCFC (14-12-8) dropped to sixth in the East and will kick off its playoff campaign on the road against FC Cincinnati.

Montreal’s playoff berth completes a late-season U-turn under first-year head coach Laurent Courtois. The tumultuous season has featured a nine-game winless run, the reported trade demand of since-departed MVP Mathieu Choinière and the exit of sporting officer Olivier Renard.

Courtois’s squad was one point from the Eastern Conference basement in early September before a five-game unbeaten run — including four wins — propelled it back into the post-season picture. Montreal could have clinched a playoff spot last game, but fell 2-0 at Charlotte FC on Oct. 5.

A year ago, Montreal fell 2-1 to the Columbus Crew on Decision Day. The team gathered on the touchline around an iPad to watch the New York Red Bulls beat Nashville SC 1-0 with a stoppage-time penalty that crushed Montreal’s post-season hopes.

On Saturday, Montreal jumped out to a 2-0 first-half lead despite a shaky start to the match.

Centre back Joel Waterman, who moved up into central midfield with Nathan Saliba out for yellow card accumulation, gifted the ball to NYCFC’s Keaton Parks at the top of the box in the 13th minute. Parks, however, shot the ball wide.

Minutes later, NYCFC continued to press for a goal and Montreal goalkeeper Jonathan Sirois leapt for a huge save on Tayvon Gray’s volley.

Clark opened the scoring in the 18th when Bryce Duke sent a ball into the box for Martinez, who played decoy and let the ball roll to his trailing teammate for a beautiful goal.

Montreal almost made it 2-0 four minutes later as Clark connected with Martinez, but NYCFC ‘keeper Matt Freese challenged the attempt successfully.

Clark and Martinez — two players in great form — linked up again in first-half stoppage time to make it 2-0.

With NYCFC appearing to wait for the halftime whistle, Clark chased the ball down the left flank and fought off a defender for a relentless individual effort. He then delivered a pass into the six-yard box for Martinez to cleanly tip home.

Martinez, a league MVP in 2018, has six goals in his last five matches. Clark, a midseason acquisition, has four goals and four assists in seven.

In the second half, defender George Campbell joined the offence with a strong run into New York’s box and nearly set up Clark for a brace.

Montreal otherwise parked the bus and let the time wind down with the comfortable lead.

New York held 57 per cent of possession, led the shot attempts 15-5 (4-3 for Montreal on target) and earned 10 corners to one for Montreal, but failed to beat Sirois.

Montreal exorcised some demons in the process, winning its third game against NYCFC in 21 meetings and the first since July 7, 2021.

This report by The Canadian Press was first published Oct. 19, 2024.

The Canadian Press. All rights reserved.



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Trump kicks off a Pennsylvania rally by talking about Arnold Palmer’s genitalia

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LATROBE, Pa. (AP) — Donald Trump’s campaign suggested he would begin previewing his closing argument Saturday night with Election Day barely two weeks away. But the former president kicked off his rally with a detailed story about Arnold Palmer, at one point even praising the late, legendary golfer’s genitalia.

Trump was campaigning in Latrobe, Pennsylvania, where Palmer was born in 1929 and learned to golf from his father, who suffered from polio and was head pro and greenskeeper at the local country club.

Politicians saluting Palmer in his hometown is nothing new. But Trump spent 12 full minutes doing so at the top of his speech and even suggested how much more fun the night would be if Palmer, who died in 2016, could join him on stage.

“Arnold Palmer was all man, and I say that in all due respect to women,” Trump said. “This is a guy that was all man.”

Then he went even further.

“When he took the showers with other pros, they came out of there. They said, ‘Oh my God. That’s unbelievable,’” Trump said with a laugh. “I had to say. We have women that are highly sophisticated here, but they used to look at Arnold as a man.”

Trump senior adviser Jason Miller told reporters before the speech that Trump planned to preview his closing argument against Vice President Kamala Harris and “start to get into that framing.” Candidates have traditionally used their final days on the campaign trail to sum up for the electorate why they deserve to win the White House.

Trump eventually hit many of his favorite campaign themes but didn’t offer much in the way of new framing of the race or why he should win it. He instead boasted of creating strong tax policies and a strong military during his first term in office.

He slammed Harris as “crazy” and added a profanity.

“You have to tell Kamala Harris that you’ve had enough, that you just can’t take it anymore, we can’t stand you anymore, you’re a s— vice president,” Trump said to roars of the crowd. “The worst. You’re the worst vice president. Kamala, you’re fired. Get the hell out of here.”

He also criticized Harris for suggesting during her unsuccessful run for president in 2020 that she’d support a ban on hydraulic fracking, which is important to Pennsylvania’s economy and a position Harris’ campaign says she no longer supports.

Trump invited on stage members of a local steelworkers union that endorsed him. He donned a construction hat with his name on it.

He also said Israeli Prime Minister Benjamin Netanyahu called him amid Israeli’s ongoing war with Hamas in Gaza.

“He said, ‘It’s incredible what’s happened,’” Trump said of the Netanyahu call before moving to a criticism of President Joe Biden, saying that the Israeli prime minister “wouldn’t listen to Biden.”

Trump praised the raucous crowd, which was outside and at an airport, but also made a point of suggesting that there was more conspicuous security around him following two assassination attempts, saying, “They give you a little extra security nowadays, you notice?”

“I got more machine guns than I’ve ever seen — look at these guys,” he said referring to security. He was interrupted by cries from the crowd of “USA! USA!” before continuing, “We’ve got more guys, and every one of them is like central casting too, holy s—.”

Then he tied it back to Latrobe’s native son, adding, “They look like Arnold. Can’t look better than Arnold.”

___

Weissert reported from Washington.

The Canadian Press. All rights reserved.



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Harris says Trump is ‘cruel’ as she spotlights abortion restrictions in Georgia during early voting

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ATLANTA (AP) — Vice President Kamala Harris said Saturday that Republican former President Donald Trump was “cruel” for how he talked about the grieving family of a Georgia mother who died after waiting 20 hours for a hospital to treat her complications from an abortion pill, as she put combating restrictions on reproductive care at the center of her pitch to voters.

At a rally in Atlanta, Harris blamed Amber Thurman’s death on Georgia’s abortion restrictions that took effect after the Supreme Court in 2022, with three Trump-appointed justices, overturned Roe v. Wade. It comes as Harris is looking to the issue to propel support to Democrats, who have pledged to restore a national right to abortion if they win the White House and enough seats in Congress.

“Donald Trump still refuses to take accountability, to take any accountability, for the pain and the suffering he has caused,” Harris said.

Thurman’ story features at the center of one of Harris’ closing campaign ads, and her family attended her Atlanta rally, with her mother holding a photo of her daughter from the audience. Harris showed a clip of Trump saying during a recent Fox News Channel town hall, when he was asked about the Thurman family joining a separate media call, “We’ll get better ratings, I promise.”

“A grieving family, a grieving family, sharing the memory of their daughter with our nation. Where is the compassion?” she asked. “What we see continually from Donald Trump is exactly what that clip shows,” Harris added. “He belittles their sorrow, making it about himself and his television ratings. It is cruel.”

Before Harris became the Democratic nominee, Ian Summer, 19, planned on voting against Trump — but he wasn’t enthusiastic about President Joe Biden. Since Harris stepped into the race “she’s brought great energy,” Summer said. Summer is worried about restrictions on abortion access under Trump. “The fact that I could have a wife in the future that may not be able to receive the care that she needs, that’s a very scary thing,” he said.

Early voting is also underway in Georgia. More than 1.2 million ballots have been cast, either in person or by mail. Democrats hope an expansive organizing effort will boost Harris against Trump in the campaign’s final weeks. Harris referenced that former President Jimmy Carter recently voted by mail days after his 100th birthday.

“If Jimmy Carter can vote early, you can too,” Harris said.

Roderick Williams, 56, brought his three daughters to Harris’ Atlanta rally. His youngest daughter was born around the time former President Barack Obama entered office, and he hopes they can witness history again by seeing Harris become the first Black woman to be president.

“It’s important for them to see that anything’s possible,” Williams said.

Harris was joined at the rally by hometown music icon Usher, drawing again on star power as she looks to excite voters to the polls. Earlier Saturday she appeared with Lizzo on Saturday in the singer’s hometown of Detroit, marking the beginning of in-person voting and lavishing the city with praise after Trump recently disparaged it.

“All the best things were made in Detroit. Coney Dogs, Faygo and Lizzo,” the singer joked to a rally crowd, pointing to herself after listing off the hot dogs and soda that the city is famous for.

She said it was time to “put some respect on Detroit’s name” noting that the city had revolutionized the auto and music industries and adding that she’d already cast her ballot for Harris since voting early was “a power move.”

Heaps of praise for the Motor City came after Trump, the former president, insulted it during a recent campaign stop. And Harris continued the theme, saying of her campaign, “Like the people of Detroit, we have grit, we have excellence, we have history.”

Arms wide open as she took the stage, Harris let the crowd see she was wearing under her blazer a “Detroit vs. Everybody” T-shirt that the owner of the business that produces them gave her during a previous stop in the city earlier in the week. She also moved around the stage during her speech with a hand-held mic, not using a teleprompter.

More than 1 million Michigan residents have already voted by mail in the Nov. 5 election, and Harris predicted that Detroit turnout for early voting would be strong.

“Who is the capital of producing records?” Harris asked when imploring the crowd to set new highs for early voting tallies. “We are going to break some records here in Detroit today.”

She slammed Trump as unstable: “Somebody just needs to watch his rallies, if you’re not really sure how to vote.”

“We’re not going to get these 17 days back. On Election Day, we don’t want to have any regrets,” the vice president said.

Lizzo also told the crowd, “Mrs. Commander-in-Chief has a nice ring to it.”

“This is the swing state of all swing states, so every last vote here counts,” the singer said. Then, referencing her song of the same title, Lizzo added, “If you ask me if America is ready for its first woman president, I only have one thing to say: “It’s about damn time!”

Republican National Committee Chairman Michael Whatley said in a statement that Harris needed Lizzo “to hide the fact that Michiganders were feeling good under President Trump – real wages were higher, prices were lower, and everyone was better off.”

Talona Johnson, a product manager from Rochester, Michigan, attended Harris’ rally and said that Harris “and her team are doing the things that are required to make sure that people are informed.”

“I believe she’s telling the truth. She’s trying to help the people,” said Johnson, who said she planned to vote for Harris and saw women’s rights as her top concern.

“I don’t necessarily agree with everything that she’s put out, but she’s better than the alternative,”

In comments to reporters before the rally, Harris said she was in Detroit “to thank all the folks for the work they are doing to help organize and register people to vote, and get them out to vote today. She also called Detroit “a great American city” with “a lot of hard-working folks that have grit and ambition and deserve to be respected.”

The vice president was asked about whether the Biden administration’s full-throated support for Israel in its war with Hamas in Gaza might hurt her support in Michigan. Dearborn, near Detroit, is the largest city with an Arab majority in the nation.

“It has never been easy,” Harris said of Middle East policy. “But that doesn’t mean we give up.”

___

Associated Press writers Matt Brown in Detroit, Charlotte Kramon in Atlanta and Will Weissert and Fatima Hussein in Washington contributed to this report.



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