Canada’s latest inflation numbers have forecasters expecting the Bank of Canada to continue cutting interest rates this year. Statistics Canada says the annual rate of inflation fell to 2.5 per cent in July, down from 2.7 per cent in June. It was the slowest annual increase in the consumer price index since March of 2021. Provincially, Nova Scotia’s annual inflation rate stood at 2.3 percent in July, down from 3.5 per cent in June. The central bank will hold its next interest rate announcement on September 4th.
The prime minister is scheduled to hold a cabinet retreat in Halifax from Sunday to Tuesday. Justin Trudeau says the retreat will focus on strengthening the middle class and growing the economy. He says the cabinet will take action on the “top-of-mind priorities of Canadians,” including bringing down the cost of living, building more homes, investing in health care, making dental care and essential medications more affordable, and taking climate action. The cabinet is also to discuss ways to strengthen Canada’s relationship with the United States.
The Nova Scotia Liquor Corporation has released its first-quarter financial results showing sales up 1.5 per cent to 222.5 million dollars for the period April 1st to June 30th.
The corporation says beverage alcohol sales increased 0.7 per cent to 191.3 million, and cannabis sales increased 7.3 per cent to 31.2 million dollars.
However, overall earnings decreased 0.5 per cent to 70.4 million dollars
The Town of New Glasgow is advising that work will be taking place on three Town streets on Thursday and continue possibly on Friday. The work is in preparation for paving. The Streets are:
1. East River Rd. – from the Shell gas station to Atlantic Dr., inbound curb lane
2. George St. – from train tracks (near The Dock) to West side of George St. Bridge, full width (The entire surface of the bridge will be milled)
3. George St. – from Stellarton Rd. to bridge (two eastbound lanes)
4. South Frederick St. – from East River Rd. to MacGregor St.
