By Glen Hallick
Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Economic inflation in Canada increased in June to an annualized rate of 1.9 per cent, Statistics Canada reported on Tuesday. The increase from May’s consumer price index of 1.7 per cent was largely in line with analysts’ expectations. Fuel prices at the pump fell 13.4 per cent in June but food prices at the stores were up 2.8 per cent, shelter increased 2.9 per cent, furniture prices rose 3.3 per cent and new passenger vehicles climbed 5.2 per cent.
Read Also
Global Markets: Trump targets EU, Mexico
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Meanwhile in the United States, inflation in June bumped up to an annualized rate of 2.7 per cent versus 2.4 per cent in May, the Bureau of Labor Statistics reported on Tuesday. The bureau said the increase is due to the array of tariffs imposed by the Trump administration. With the latest inflation numbers, above the U.S. Federal Reserve’s two per cent target, the Fed is likely to remain cautious about resuming interest rate cuts.
- China reported its gross domestic product climbed 5.2 per cent in the second quarter of 2025. While that’s down from 5.4 per cent economic growth in Q1, it beat analysts’ expectations of a 5.1 per cent increase. However, trade issues with the U.S. have created uncertainty among China’s consumers and businesses. The Chinese government is widely expected to inject more stimulus into the country’s economy over the coming months.
- The U.S. Department of Agriculture issued its weekly crop progress report on Monday, showing a four-point improvement in soybean ratings at 70 per cent good to excellent as of July 13. U.S. corn held at 74 per cent good to excellent while wheat rose four points at 54 per cent. The winter wheat harvest advanced 10 points at 63 per cent complete, virtually on par with the five-year average.
