WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– For the first time in a year, Canada’s annual rate of inflation dropped from the month before. Statistics Canada reported on Tuesday that the rate declined 0.5 percentage points to 7.6 per cent in July. Gasoline prices were a major part of the decrease, falling 9.2 per cent compared to June, the largest month-by-month decline since April 2020. However, grocery prices rose 9.9 per cent year-by-year in July, the fastest pace since April 1981.
– An ammunition depot in the Russian-annexed region of Crimea was likely hit by Ukrainian forces on Tuesday, the second time in as many weeks a Russian military base in Crimea was blasted. The Russian government announced that two people were wounded in Tuesday’s blast, railway traffic was halted and 2,000 people were evacuated from a nearby village. Ukraine has not officially confirmed or denied responsibility for the explosions in Crimea, but officials have openly cheered the incidents.
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– Kenyan opposition leader Raila Odinga announced on Tuesday he will challenge the results of the election which was declared in favour of his opponent Deputy President William Ruto on Monday. Ruto was declared the winner with 50.5 per cent of the vote, but four of the seven election commissioners announced they could not support the results. The turnout for the election was 65 per cent, lower than many expected.
– The United Kingdom’s Health Security Agency announced on Monday that the monkeypox outbreak appears to be slowing down. Authorities are reporting 29 new cases every day, compared to 52 cases a week during the last week of June. More than 3,000 cases have been identified in the country, 70 per cent of those in London.
