Walmart Inc WMT.N could face an uphill battle to reclaim US shoppers who opted for the neighborhood dollar store or Aldi rather than driving farther to a Walmart Supercenter when gasoline was $5 a gallon. While gasoline prices have dropped nearly 20% over the past month, there are no signs shoppers are returning to the … Read more
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Slowing US inflation may have opened the door for the Federal Reserve to temper the pace of coming interest rate hikes, but policy-makers left no doubt they will continue to tighten monetary policy until price pressures are fully broken. A US Labor Department report Wednesday showing consumer prices didn’t rise at all in July compared … Read more
More than a third of US adults are dipping into their savings accounts to help them afford higher prices, new research shows. In the face of high inflation, 36% of people say they have withdrawn an average of $617 from their savings during the first six months of this year, according to New York Life’s … Read more
Wholesale prices fell in July for the first time in two years as a plunge in energy prices slowed the pace of inflation, the Bureau of Labor Statistics reported Thursday. The producer price index, which gauges the prices received for final demand products, fell 0.5% from June, the first month-over-month decrease since April 2020, the … Read more
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Grocery store owner Metro Inc.’s profits grew by 9 per cent in the third quarter and sales rose slightly compared to the same period last year, even as lifting restrictions have caused some Canadians to venture out to restaurants more often. The Montreal-based retailer, which owns store chains including Metro, Food Basics and Super C, … Read more
Longer-term US Treasury yields were slightly higher on Wednesday, as investors awaited highly anticipated inflation figures which could influence the pace of Federal Reserve interest rate hikes. The yield on the benchmark 10-year Treasury note rose under a basis point to 2.7992% while the yield on the 30-year Treasury bond was also up under a … Read more
Inflation running at its highest levels since the early 1980s likely cooled a little in July but is still running at a sweltering pace. Markets on Wednesday will get a look at a key data point that will show just where price pressures stood heading into August — the July consumer price index report, which … Read more
The pandemic may have accelerated the digitization of payments, but amid record levels of inflation and the soaring cost of living, could cash be making something of a comeback? In the United Kingdom at least, it seems that people are now turning to cash to manage their budgets. That’s according to the UK Post Office … Read more
Small businesses in southern Alberta continue to deal with the financial fallout of the pandemic, and now they’re dealing with the added pressures of inflation. “We have actually less customers this summer than compared to the summer when we had COVID, and that directly is inflation,” said Ram Khanal, owner of the Water Tower Grill … Read more
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A rally in US stocks that has powered on despite skepticism from Wall Street faces a reality check this week, as key inflation data threaten to shut the door on expectations of a dovish shift from the Federal Reserve. The S&P 500 has walked a tightrope this summer, rising 13 per cent from its mid-June … Read more