By MarketsFarm
WINNIPEG, Sept. 20 – The following is a glance at the news moving markets in Canada and globally.
– Canada’s annual rate of inflation cooled slightly in August, with the Consumer Price Index up by 7.0 per cent on the year, compared to 7.6 per cent the previous month, according to a report from Statistics Canada. Pre-report expectations had been for a reading closer to 7.3 per cent. Declines in gasoline prices accounted for much of the shift, with food prices still up sharply. Food costs were up by 10.8 per cent in August, marking the fastest pace since 1981.
– Amid the ongoing conflict in Ukraine, four Russian-controlled regions of the country announced plans to hold referendums on joining Russia. While any votes in the regions are expected to go towards Russia, Western nations are unlikely to recognize their validity.
– Hurricane Fiona is continuing northward as a Category 3 hurricane and could hit Atlantic Canada by the weekend. The storm has already caused severe damage to Puerto Rico and the Dominican Republic.
