The inflation mountain: What the descent may look like
It’s looking more and more like the 8.1% annualized inflation reading from June 2022 was the peak of post-pandemic price increases.
On Tuesday, Statistics Canada reported that Canada’s inflation rate cooled to 7% in August. Experts had been predicting a slight decrease to 7.3% (continuing the downward trend established by the decrease to 7.6% in July). The lower-inflation news was welcomed by several economists as proof that contractionary monetary policy by the Bank of Canada (BoC)was achieving its goal, and that the worst-case scenario of massive interest rate increases were now unlikely to be required.
The significant drop in inflation was quite unexpected after last week’s 0.1% CPI increase in the U.S.
Here are the major takeaways from Canada’s Consumer Price Index (CPI) report for August:
Gasoline prices fell 9…
What has intensified investor pain further is the unabated cyber-theft that has drained billions of dollars from crypto holders’ accounts. Since crypto transactions are usually irreversible, stolen coins are nearly impossible to reclaim.
Cybercriminals pilfered roughly $4.5 billion worth of digital currency in 2021, more than twice the 2020 total. In the first half of this year alone, nearly $2 billion worth of crypto has been lost to hacking, clocking a 60% jump in such instances.
Crypto theft remains a growing problem. As more investors turn to digital assets for wealth creation or to diversify their portfolios, learning how to protect crypto holdings has become a crucial part of investing. Here’s your essential guide to keeping your crypto safe…