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Making sense of the markets this week: July 21, 2024
– moneysense.ca
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Inflation continues to fall as temperature rise
As we’re moving through summer’s dog days and heat records are being broken around the world, Canadian inflation is moving in the opposite direction. Statistics Canada released that the year-over-year Consumer Price Index (CPI) increase cooled to 2.7% in June. As inflation continues its downward trend, it generally indicates that the Bank of Canada’s monetary policy is working.
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Source: Statistics Canada
Consumer price index June 2024 report highlights
The main takeaways from the monthly CPI report are:
Core CPI (excluding food and energy) stayed stubbornly higher than the headline CPI, coming in at an annualized 2…
