WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada (StatCan) reported this morning that the country’s annual inflation rate moved up by 0.1 of a percentage point to 4.4 per cent in April, bucking economists’ expectations that it would decline to 4.1 per cent. It is the first increase in Canada’s inflation rate since last June when the rate hit a four-decade high of 8.1 per cent. Grocery prices increased 9.1 per cent year-by-year in April, while gasoline prices jumped by 6.3 per cent in the month of April alone.
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– The WestJet Group, which includes its namesake airline and discount carrier Swoop, said it will lock out its pilots after they delivered a 72-hour strike notice to the company and the federal government on Monday. Strike action is set to begin Friday morning, but WestJet said it has a contingency plan which includes operating on a reduced schedule and refunding or re-accommodating passengers affected by the job action. The strike notice does not ensure there will be a work stoppage.
– Ukraine said on Tuesday it shot down six Russian Kinzhal missiles over Kyiv, which, if confirmed, would be the first time Ukraine stopped an entire volley of hypersonic missiles. Ukrainian armed forces commander-in-chief Valeriy Zaluzhnyi said its newly-deployed Western air defence system successfully intercepted the Kinzhals as well as nine Kalibr cruise missiles launched from ships in the Black Sea and three Iskanders from land. Russia’s defence ministry claimed it destroyed a Patriot surface-to-air missile defence system with a Kinzhal.
