Inflation Accelerates to 4.4% in April

Inflation Accelerates to 4.4% in April

Sunny Days Ahead despite Inflation Increaes

Inflation Accelerates to 4.4% in April

Inflation rose 4.4% year-over-year in April, the first time price growth accelerated since

reaching a peak of 8.1% last June and ending a run of five consecutive lower readings.

This is certainly not ideal news in the context of the pandemic recovery, but it’s not all bad.

Costs across rent, mortgage interest, and gas contributed to the rise, but on the bright side,

costs for groceries cooled, as did core inflation metrics. This shows that it’s not a universal trend

and that measures can be taken to mitigate the impact.

 

The Bank of Canada said it would “conditionally pause” rates in March while it assesses

the impact of eight previous rate hikes.  The bank is targeting a 3% annual inflation rate by the summer.

The latest unexpected bump opens the door to a rate hike without breaking their pledge. 

 

Increase in inflation rate in April gives B of C pause

Bank of Canada market update

 

Scotiabank economist Derek Holt wrote in a note (subtly titled The BoC’s Unfinished Business)

he would assign a high probability to a June hike.

The odds of an interest rate hike in June have just gotten a lot higher. Although the news may not be great,

it is essential to be informed about the state of our economy. We must look to the future

and consider what we can do to mitigate the impact of inflation on our daily lives.

-Source “The Peak” Newsletter May 17/2023

 

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Brad Sinclair

Team Lead “The Brad Sinclair Team”

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Royal Heritage Realty, Brokerage

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The Brad Sinclair Team

** Blog not intended to solicit buyers or sellers under agency contract**

 

    • My name is Brad Sinclair of the Sinclair Real Estate Team. My Team specializes in selling Kawartha Waterfront cottages and homes. Local knowledge is vital! We are not here to give you a sales pitch but give you the info. Local information that will help you in your purchase or sale of waterfront property. My position while working for you as a trained professional is to make sure the process goes as smoothly, stress-free, and as profitable for you as it can be. We believe the two most crucial aspects of selling your home or any property is to achieve the highest price possible and in the shortest allowable time.

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