Canadas annual inflation down

Consumer Price rose 6.8% in Nov, following 6.9% increase in Oct

eAwaz Local News

Ottawa – The Consumer Price Index (CPI) rose 6.8% year over year in November, following a 6.9% increase in October. Excluding food and energy, prices rose 5.4% on a yearly basis in November, following a gain of 5.3% in October. Slower price growth for gasoline and furniture was partially offset by faster growth in mortgage interest cost and rent. On a monthly …

Doubling Goods Services Tax Credit

Govt Doubling Goods & Services Tax Credit for 6 Months

eAwaz Local News

Ottawa – The Goods and Services Tax (GST) Credit helps offset the financial impact of the GST for low- and modest-income people and families. The credit is paid quarterly in January, April, July, and October, with benefit years beginning in July. The total annual value of the GST Credit depends on family size and income. For the July 2022 through June …

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Inflation down to 7.6% on year-over-year basis in July

eAwaz Local News

Ottawa – The Consumer Price Index (CPI) rose 7.6% on a year-over-year basis in July, down from an 8.1% gain in June. The deceleration was a result of slower year-over-year growth in gasoline prices. Excluding gasoline, prices rose 6.6% year over year in July, following a 6.5% increase in June, as upward pressure on prices remained broad-based. On a monthly basis, the CPI rose 0.1% in July, …

Federal Minimum wage

Federal minimum wage to rise to $15.55/ hour on April 1

eAwaz Local News

Gatineau – On April 1, 2022, the federal minimum wage will increase from $15.00 to $15.55 per hour. For those working in provinces or territories where the general minimum wage rate is higher, the higher rate will continue to apply. The federal minimum wage, which came into force on December 29, 2021, is adjusted automatically on April 1 of every …

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Stats Canada: Annual inflation surpasses 5% for 1st time in over 30 years

eAwaz Local News

Ottawa – In January 2022, Canadian inflation surpassed 5% for the first time since September 1991, rising 5.1% on a year-over-year basis and up from a 4.8% gain in December 2021. In comparison, the headline Consumer Price Index (CPI) increased 1.0% on a year-over-year basis in January 2021. Excluding gasoline, the CPI rose 4.3% year over year in January 2022—the fastest pace since the introduction of the index in 1999. COVID-19 pandemic-related challenges continue …