Global Markets: Canada’s rate of inflation eases

By MarketsFarm

WINNIPEG, April 17 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

• Canada’s rate of inflation slowed in March, with the 4.3 per cent increase in the consumer price index the smallest year-on-year increase since the 4.1 per cent reported in August 2021. The CPI growth compares to the previous month when annual inflation came in at 5.2 per cent.

• Loblaws president and CEO, Galen Weston, will step down next year and be replaced by Per Bank, a retail executive from Denmark. Weston, the face of the company who has also come under fire over allegations of price-gouging and profiteering, will remain chair of the company’s board and CEO of Loblaws’ parent company Weston Ltd.

• Russian President Vladimir Putin visited two regions of Ukraine annexed by Russia on Tuesday as the conflict continued with air strikes and heavy artillery bombardments on the city of Bakhmut.

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