๐Canada's inflation rate cooled to 2% in August, the lowest since February 2021, as reported by Statistics Canada. Monthly consumer prices fell by 0.2%, driven by decreases in gasoline, telephone services, and clothing prices. However, shelter costs, including rent, rose by 8.9%. The Canadian dollar weakened slightly following the news. The Bank of Canada, having reduced its key rate by 75 basis points since June, is expected to continue rate cuts. Analysts predict further drops in inflation to 2.4% next year, aiming for the central bank's target range of 1-3% by 2026.โ . ๐๐๐ฏ๐ข๐ ๐๐ญ๐ ๐ฒ๐จ๐ฎ๐ซ ๐ก๐จ๐ฆ๐ ๐ฃ๐จ๐ฎ๐ซ๐ง๐๐ฒ ๐๐๐๐จ๐ซ๐ญ๐ฅ๐๐ฌ๐ฌ๐ฅ๐ฒ ๐ฐ๐ข๐ญ๐ก ๐๐๐ฆ๐๐ฅ, ๐ฒ๐จ๐ฎ๐ซ ๐๐๐๐ข๐๐๐ญ๐๐ ๐๐๐ ๐๐๐๐ฅ๐ญ๐จ๐ซ. ๐๐๐ฅ๐ฅ: +๐ (๐๐๐) ๐๐๐-๐๐๐๐ ๐๐ฆ๐๐ข๐ฅ: ๐ค๐๐ฆ๐๐ฅ@๐ญ๐ก๐๐๐๐ง๐๐๐ข๐๐ง๐ก๐จ๐ฆ๐.๐๐จ๐ฆ @kamalpillai_realtor . . #CanadaEconomy #InflationUpdate #CPIReport #BankOfCanada #GasPrices #RentCosts #InterestRates #mnm #malayalisnearmeapp #canadaupdate #canadanews
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