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Canada’s inflation rate slowed to 5.9% in January, but food costs continue to rise

Published

2 years ago

February 21, 2023

Canada’s inflation rate slowed to 5.9 per cent in January, Statistics Canada said on Tuesday.

That number was lower than the 6.2 per cent that economists were expecting. However, the price of groceries continued to accelerate at a faster pace than in December, the statistics agency reported.

Mortgage interest costs continued to rise, clocking in at 21.2 per cent in January as the Bank of Canada tries to tame inflation with high interest rates. It marks the largest increase since September 1982.

Given much of the acceleration in inflation happened in the first half of 2022, the federal agency says headline inflation will continue to slow because of base-year effects.

A base-year effect refers to the impact of price movements from a year ago on the calculation of the year-over-year inflation rate.

The last time Canada’s annual inflation rate was below six per cent was in February 2022, when it was 5.7 per cent.

No slowdown in cost of groceries

Meanwhile, grocery prices rose faster last month, with prices up 11.4 per cent compared to a year ago. The federal agency said prices for meat, bakery goods and vegetables all rose faster.

On a monthly basis, higher gas prices in January drove up the consumer price index compared with December. The federal agency said the consumer price index rose 0.5 per cent in January after declining by 0.6 per cent a month prior.

Meanwhile, consumers paid less for cellular services in January compared with a year ago as Boxing Day deals extended into last month.

The prices for passenger vehicles also slowed on a yearly basis, partly reflecting base-year effects, given the availability of vehicles was impacted by supply chain problems a year ago.

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Health Canada approves updated Novavax COVID-19 vaccine

Published

14 mins ago

September 19, 2024

Anne Joseph

Health Canada has authorized Novavax’s updated COVID-19 vaccine that protects against currently circulating variants of the virus.

The protein-based vaccine, called Nuvaxovid, has been reformulated to target the JN.1 subvariant of Omicron.

It will replace the previous version of the vaccine, which targeted the XBB.1.5 subvariant of Omicron.

Health Canada recently asked provinces and territories to get rid of their older COVID-19 vaccines to ensure the most current vaccine will be used during this fall’s respiratory virus season.

Earlier this week, Health Canada approved Moderna’s updated mRNA COVID vaccine.

It is still reviewing Pfizer’s updated mRNA vaccine, with a decision expected soon.

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

Canadian Press health coverage receives support through a partnership with the Canadian Medical Association. CP is solely responsible for this content.

Note to readers: This is a corrected story. A previous version erroneously described the Novavax vaccine as an mRNA shot.

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Endangered North Atlantic right whale spotted entangled in Gulf of St. Lawrence

Published

27 mins ago

September 19, 2024

Anne Joseph

HALIFAX – The federal Fisheries Department says an endangered North Atlantic right whale has become entangled in gear in the Gulf of St. Lawrence.

The department says the whale was sighted Wednesday by a Transport Canada aerial surveillance team northeast of the Gaspé Peninsula, off Anticosti Island.

Officials say it’s not known what type of gear has entangled the whale or where the gear came from.

Based on observation, experts at the New England Aquarium have confirmed the whale is a female known as Chiminea.

The department says it is continuing to monitor the area and if the whale is located and conditions allow, efforts will be made to disentangle the animal.

Last October, the North Atlantic Right Whale Consortium estimated there were 356 North Atlantic right whales left on the planet.

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

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Nelly Furtado to perform at Invictus Games opening cermony with Bruneau and Kahan

Published

1 hour ago

September 19, 2024

Anne Joseph

VANCOUVER – Canadian pop icon Nelly Furtado has been named one of three headliners for the opening ceremony of the upcoming Invictus Games.

Furtado, from Victoria, will share the stage with alt-pop star Roxane Bruneau of Delson, Que., and American singer-songwriter Noah Kahan.

They’ll be part of the show that opens the multi-sport event in Vancouver and Whistler, B.C., in February.

The Invictus Games sees wounded, injured, and sick military service members and Veterans compete in 11 disciplines.

The Vancouver Whistler 2025 Games will be the first of seven editions to feature winter adaptive sports, including alpine skiing, Nordic skiing, skeleton and wheelchair curling.

British Columbia’s Lower Mainland will host the Invictus Games from Feb. 8-16.

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

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