👉Statistics Canada data reveals that Canada's annual inflation rate declined to 2.8% in June, marking a 27-month low. Despite this drop, food prices remain elevated. The figure came in lower than analysts' expectations, who had predicted a decline to 3.0% from May's 3.4%. The consumer price index also saw a modest increase of 0.1% month-over-month, falling short of the anticipated 0.3% gain. This latest reading places the annual rate within the Bank of Canada's controlled range of 1% to 3% for the first time since March 2021.✅ . . #InflationRate #ConsumerPriceIndex #FoodPrices #EconomicData #StatisticsCanada #BankofCanada #InflationTrends #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉According to Statistics Canada's report on Tuesday, Canada's inflation rate reduced to 4.3 per cent in March, which was in line with economists' expectations and lower than the previous month's rate of 5.2 per cent. Additionally, the report noted a slowdown in the increase of food prices, which have been rising at their highest rate in several decades. The report stated that the price of food purchased from stores increased by 9.7 per cent in the year leading up to March, with most of the deceleration attributable to lower prices for fresh fruits and vegetables, compared to a 10.6 per cent pace in the year leading up to February.✅ . . #Canada #inflation #economy #StatisticsCanada #price #foodprices #freshfruits #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉It has been confirmed by CTV News that the 2023 federal budget will introduce a "grocery rebate" aimed at helping lower-income Canadians who may be struggling with the increasing cost of food. The new measure, which is set to be unveiled on Tuesday, will provide assistance to almost 11 million Canadians. Under the proposed scheme, eligible recipients would receive a one-time payment based on their household size and income. For example, a couple with two children could receive a payment of up to $467, while a senior could receive a payment of $225, and a single person could receive $234.✅ . . #CanadianGovernment #FederalBudget #GroceryRebate #LowerIncomeCitizens #FinancialRelief #COVID19 #Pandemic #FoodPrices #mnm #malayalisnearmeapp #canadaupdate #canadanews