Canada's population grew by more than 430,000 in the third quarterThe fastest growth rate in any quarter since 1957。Statistics Canada released population estimates as of Oct. 1, showing that Canada has a population of more than 40.5 million.
*From the web.
The country's total population has grown more in the first nine months of the year than in any other full year, including the record set in 2022.
The record population growth was largely due to international migration, with the increase in non-permanent residents accounting for most of the increase.
The report shows that the number of non-permanent residents increased by about 31 percent over that three-month period30 thousand.
The increase in non-permanent residents was driven primarily by people with work and Xi permits and, to a lesser extent, by refugee claimants, federal agencies said.
Canada's annual inflation rate remained flat last month at 3 while the population was growing1％Progress in curbing growth** has stalled.
The statistics bureau's November consumer index report, released on Tuesday, showed that entertainment and apparel were putting upward pressure on inflation.
* Inflation is widely expected to decline last month.
However, there are still some encouraging factors in the report, including a slowdown in some core inflation measures, which strip out the more volatile components.
*From the web.
Douglas Porter, chief economist at BMO, wrote in a client memo: "Today's results are slightly disappointing and reinforce the issue that we still need to deal with inflation – if there are any doubts. ”
However, the overall picture remains the same: the underlying inflation trend is declining, the economic situation is cold, and the central bank is expected to start cutting interest rates around the middle of the year. ”
The report also mentioned some good news on the grocery front, as the pace of growth in food** slowed for the fifth month in a row.
Compared to a year ago, food *** is 47, compared to 5 in October4 Slowed down.
And grocery loblaws are bursting with profits.
Much like its main rival, supermarket giant Loblaws' profits have soared in recent months, with earnings jumping again as CEO Galen Weston steps from the helm of the company.
In the third quarter of the fiscal year, Loblaw Companies LtdThe published revenue was 182$700 million with a profit of $6C$2.1 billion, up 5% and just under 12% compared to the same period last year.
At this time, food bank usage in places like Toronto is at an all-time high, and food inflation continues to outpace overall inflation, from butter, eggs and meat to potato chips, baby food and spices.
*From the web.
According to Statistics Canada's latest Food Data Center, "the magnitude of groceries exceeds that of all food items" - the Consumer Index of Goods (CPI) since December 2021Among them, bakery products, margarine and other edible oils, dairy products and staple food commodities such as eggs rose the most.
This is a concern enough to warrant an investigation by the Competition Bureau of Canada A House of Commons Standing Committee on Agriculture and Agri-Food has also been studied by the House of Commons, with Weston called to testify earlier this year.
Although Weston represents the country's ** in many ways, arguably a price-gouging grocery oligopoly, he has announced that he will be resigning from Loblaw Companies LtdThe role of President and Chief Executive Officer, the change did not take effect until this month.
And, he decided to use the last meeting of his long tenure to denounce those who say that he, his family company and other chains have been profiting from inflation and pushing up food ** above what it should be.
In releasing Loblaw's latest financial results, Weston claimed that grocery stores were "not the cause of high food **", which he blamed solely on the inflationary pressures currently affecting everyone.
Weston will remain with the company as Chairman of Loblaw as well as George Weston Ltd., which owns a grocery subsidiaryChairman and Chief Executive Officer. Meanwhile, Per Bank has taken over as CEO of Loblaw.