The agency says … Statistics Canada says inflation pulled back even further in May as businesses shut due to the COVID-19 pandemic began to reopen slowly. An update on Kamloops stores' altered hours amid pandemicKamloops Makerspace creating face shields for frontline workersPandemic brings early fire bans to Kamloops and the provinceTwo sites, 50 spaces for homeless, others to self-isolate in Kamloops amid pandemicPeople sit in outdoor booths, built on top of street parking spots outside a restaurant as people walk on a road closed to car traffic in the Byward Market in Ottawa, on Sunday, July 12, 2020, in the midst of the COVID-19 pandemic. Kamloops This Week has always been a free product and will continue to be free. In a separate report, Statistics Canada said wholesale sales fell 2.2 per cent to $63.9 billion in March. And they were spending less on things that weigh more in the calculation.In a numbers experiment to better reflect pandemic spending, Statistics Canada found the annualized inflation figures for April and May would have been 0.0 and -0.1 per cent.The research paper made public Monday says a specific consumption pattern, such as that happening during the pandemic, would need "to be sustained in order to have a subsequent impact" on year-over-year headline numbers.The research was aided by data from the Bank of Canada, which targets an annual inflation rate of two per cent as measured by Statistics Canada's consumer price index.The bank has warned that the economic shock wrought by COVID-19 and structurally low interest rates is having a deep effect on the inflation rate, which is far below the target.The basket of goods used to form the consumer price index has been shaken by a shift in consumer spending habits during the pandemic.People are buying less gasoline, which usually receives a heavier weight in calculating inflation, as its price has plunged and the frequency of car travel has dropped. This is a means for those who can afford to support local media to help ensure those who can’t afford to can get access to trusted local information. "Nevertheless, with the economy likely still underperforming if and when further restrictions are lifted, there will be an underlying drag on inflation that central bankers will need to offset with additional monetary easing," Mendes writes. The agency previously reported that year-over-year inflation declined by 0.2 per cent in April, then took a further drop of 0.4 per cent in May as lockdowns put a damper on consumer spending. Statistics Canada says Canadians' buying patterns changed so much during the COVID-19 pandemic that its measure of consumer inflation went a little wobbly.The agency previously reported that year-over-year inflation declined by 0.2 per cent in April, then took a further drop of 0.4 per cent in May as lockdowns put a damper on consumer spending.But a look under the headline figures showed consumers were spending more on items that don't weigh as much in the consumer price index, which tracks inflation. And they were spending less on things that weigh more in the calculation.In a numbers experiment to better reflect pandemic spending, Statistics Canada found the annualized inflation figures for April and May would have been 0.0 and -0.1 per cent.The research paper made public Monday says a specific consumption pattern, such as that happening during the pandemic, would need "to be sustained in order to have a subsequent impact" on year-over-year headline numbers.The research was aided by data from the Bank of Canada, which targets an annual inflation rate of two per cent as measured by Statistics Canada's consumer price index.The bank has warned that the economic shock wrought by COVID-19 and structurally low interest rates is having a deep effect on the inflation rate, which is far below the target.The basket of goods used to form the consumer price index has been shaken by a shift in consumer spending habits during the pandemic.People are buying less gasoline, which usually receives a heavier weight in calculating inflation, as its price has plunged and the frequency of car travel has dropped.

Statistics Canada says the consumer price index for June was up 0.7 per cent compared with one year ago, ending a run of negative inflation that began in April in the wake of the COVID-19 pandemic.

You can unsubscribe or contact us anytime. OTTAWA — Statistics Canada says Canadians' buying patterns changed so much during the COVID-19 pandemic that its measure of consumer inflation went a … You can make a one-time or a monthly donation of any amount and cancel at any time . Canadians are travelling much less, while grocery-buying is up.Statistics Canada is to report June's inflation rate next week.The Bank of Canada said in April that it expected inflation to be close to zero in the second quarter.Beyond the end of June, the bank was less clear, citing the high level of uncertainty around the course of the pandemic.The federal government's economic "snapshot" last week pegged inflation at 0.5 per cent for this year, then rising back to two per cent in 2021.The reading was based on the average of forecasts from 13 private sector economists.On Wednesday, the central bank will release its updated outlook. Statistics Canada says the consumer price index for June was up 0.7 per cent compared with one year ago, ending a run of negative inflation that began in April in the wake of the COVID-19 pandemic. Statistics Canada says Canadians' buying patterns changed so much during the COVID-19 pandemic that its measure of consumer inflation went a little wobbly. Other contributors to the drop in inflation was a 21.3 per cent drop in traveller accommodation and a … Get the latest from Kamloops This Week delivered to your inbox every day.

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