A housing development near the Jackson Heights area of Peterborough, Ont., on June 27.Laura Proctor/The Globe and Mail
Getting caught up on a week that got away? Here’s your weekly digest of the Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more.
Canada’s inflation rate accelerated to 2.9 per cent in May
In an unexpected move this week, Statistics Canada reported that Canada’s inflation rate climbed higher in May. The Consumer Price Index rose 2.9 per cent in May on a year-over-year basis, up from 2.7 per cent in April. Financial analysts had been expecting the inflation rate to ease to 2.6 per cent. This was the first time in 2024 that inflation came in higher than Bay Street estimates, with a variety of services – including plane tickets, rents and cellphone…
