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Canadian inflation surged in August at the quickest pace since 2003, fuelled by the summer reopening and other pandemic factors, and causing a stir on the campaign trail ahead of Monday’s federal election.
The consumer price index jumped by 4.1 per cent in August from a year earlier, Statistics Canada said yesterday, up from 3.7 per cent in July. For five consecutive months, the annual rate of inflation has exceeded the Bank of Canada’s target range of 1 per cent to 3 per cent.
However, the central bank expects higher inflation will be temporary, and some financial analysts said that price increases should slow in the coming months.
More:
Canada’s inflation explained: How the surge affects you and what you can do about changing prices
Editorial: The Bank of Canada isn’t losing sleep over inflation, and neither should you – yet
A man shops at a halal grocery store in Thorncliffe Park on Fri., May 7, 2021.Christopher Katsarov/The Globe and Mail
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In Brampton, federal campaign pledges to boost immigration are creating friction among classes and generations
There’s no better place to observe a cross-section of immigration than in a Tim Hortons in Brampton East.
Elderly women in shalwar kameezes who have been in the city for four decades order double-doubles in Punjabi from the international students, some of whom only landed in Canada months ago. Impatient construction workers, lawyers and realtors, almost all of whom are South Asian, idle in the drive-thru, some with Hindi slang on their vanity licence plates, on their way to and from work. Some came on student visas, others as permanent residents. Some were sponsored by family members, others were Canadian-born.
With such diversity, it’s easy to understand how meaningless the label of “immigrant voter” has become.
Ever since Pierre Trudeau’s Liberal government overhauled immigration policy in the mid 1970s, ushering in waves of newcomers, parties at election time have worked to capture the support of this population. And for more than a decade, they’ve taken particular interest in Brampton East and a collection of other suburban ridings near Toronto that are home to large immigrant populations.
More election coverage:
Mulroney backs O’Toole as Conservatives look to make gains in Quebec
Campbell Clark: The pre-fab Erin O’Toole is sticking to the script
Lawrence Martin: O’Toole’s handicap: He has no big selling point, other than Trudeau-bashing
Rita Trichur: Trudeau, O’Toole prove that kid-glove treatment of spectrum speculators is the Canadian way
David Parkinson: Campaign climate promises undergo scientific reality checks
Canada left out as U.S., U.K., Australia strike deal to counter China
The United States, United Kingdom and Australia are forging a new defence pact meant to contain the military might of China in the Indo-Pacific.
The pact, dubbed AUKUS after the three countries’ initials, does not include Canada, raising the prospect that Ottawa could miss out on intelligence-sharing among some of its closest allies.
Eric Miller, a political and business consultant specializing in Canada-U.S. affairs, said the agreement represents an alliance between countries more willing than Canada to take on China.
China spoke out against the deal Thursday, saying it risked “severely damaging regional peace and stability, intensifying an arms race, and damaging international nuclear non-proliferation efforts.”
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ALSO ON OUR RADAR
Alberta to bring in vaccine passports: Alberta Premier Jason Kenney, facing a turmoil in his caucus and a health care system on the verge of failing as COVID-19 spreads unchecked, introduced a vaccine passport system that will give businesses the choice between tough restrictions or demanding customers show proof of vaccination or a negative test.
Robyn Urback: Will the pain of death actually be a wake-up call for unvaccinated Americans?
Student union calls for change after alleged assaults: Students at the University of Western Ontario are calling for systemic change to address the threat of sexual violence on campus after allegations that young women were drugged and sexually assaulted in residence last week.
Teck weighs options for core coal business: Teck Resources Ltd. has held talks with Lundin Mining Corp. and Glencore PLC as the Vancouver mining company continues to weigh its options for unloading its highly profitable but out-of-favour coal business.
Canadian home prices rose in August: Canada’s real estate market picked up steam in August, with prices climbing higher and sales volume steady over July. There were 48,379 home resales last month on a seasonally adjusted basis, according to the Canadian Real Estate Association. The home price index reached $736,600 last month, the first acceleration in month-over-month price inflation since February.
FBI, gymnastics officials ignored sexual abuse by Larry Nassar, Simone Biles says: Olympic gold medalist Simone Biles told Congress in forceful testimony yesterday that federal law enforcement and gymnastics officials turned a “blind eye” to USA Gymnastics team doctor Larry Nassar’s sexual abuse of her and hundreds of other women.
MORNING MARKETS
European markets advance, Asian stocks slide: European shares opened higher on Thursday, though market participants were still cautious after Asian equities fell for a fourth consecutive day, and as focus turns to key U.S. economic data due later in the session. Just before 6 a.m. ET, Britain’s FTSE 100 rose 0.55 per cent. Germany’s DAX and France’s CAC 40 gained 0.60 per cent and 1.07 per cent. In Asia, Japan’s Nikkei closed down 0.62 per cent. Hong Kong’s Hang Seng fell 1.46 per cent. New York futures were little changed. The Canadian dollar was trading at 79.10 US cents.
WHAT EVERYONE’S TALKING ABOUT
Rob Carrick: “Please do not manage your personal finances like the major political parties plan to run the country ... A government can handle mounting debt more easily than households – it can always raise taxes or slash spending. But debt left unaddressed for a long time means tough decisions ahead, for both.”
Cathal Kelly: “It’s the most glorious time to be a Jays fans since 2015, and that includes the playoff runs that followed that season. Because you’re starting to get the feeling that, y’know, this might actually be possible.”
TODAY’S EDITORIAL CARTOON
David ParkinsDavid Parkins/The Globe and Mail
LIVING BETTER
Three recipes for those who truly appreciate a salad ‘with lots of stuff in it’
A salad is not just a tossed bowl of leafy greens, not merely a side, a bagged filler you think you should have on the table to balance things out, but a construction of so many things you love to eat, made better by their close association with each other, with virtually no rules to adhere to. If you’re into big salads, here is some inspiration, without a tub of spring mix in sight. (Some assembly required.)
MOMENT IN TIME: SEPTEMBER 16, 1987
The hole in the ozone layer above Antarctica is seen in a series of satellite images over a 21-year time span.CSIRO via REUTERS
The Montreal Protocol agreement is reached
It would go down in history as the international environmental agreement that worked. In the mid-1980s, scientists discovered that a vast hole had opened up in the ozone layer, a protective screen in the stratosphere that absorbs harmful ultraviolet radiation from the sun. The culprit had already been identified by atmospheric chemists more than a decade earlier: a family of chlorine-bearing compounds called chlorofluorocarbons (CFCs), commonly used as refrigerants and as propellants in aerosol spray cans. Despite industry resistance, the cause and effect link proved compelling enough for international negotiators to hammer out an agreement under the United Nations Environment Program to phase out the production and use of ozone-depleting substances. The protocol has since been universally ratified, and the atmospheric concentration of the long-lived chemicals has gradually come down from the peak levels reached in the 1990s. Because CFCs also act as greenhouse gases, the agreement has since been shown to have had an important effect in delaying global warming. However, anyone who hoped the regulation of fossil fuel emissions would proceed swiftly along a similar path were destined for disappointment. Ivan Semeniuk
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