Lower prices for travel-related services in July 2024 compared with a year ago
The Consumer Price Index (CPI) rose 2.5% on a year-over-year basis in July, increasing at the slowest pace since March 2021 and down from a 2.7% gain in June 2024. Deceleration in headline inflation was broad-based in July, stemming from lower prices for travel tours, passenger vehicles and electricity. On a monthly basis, the CPI rose 0.4% in July, after falling 0.1% in June. Gasoline prices (+2.4%) increased month over month in July, putting upward pressure on the monthly CPI figure. On a seasonally adjusted monthly basis, the CPI rose 0.3% in July.
Source: Consumer Price Index, July 2024
National new home prices edge up in July 2024
The national index edged up by 0.2% month over month in July. Prices were up in 10 of the 27 census metropolitan areas (CMAs) surveyed, while they were unchanged in 13 and declined in the remaining 4 CMAs. The largest month-over-month increases in July were recorded in Calgary, Edmonton, Kelowna and Regina (each up 0.8%). Nationally, the index increased by 0.1% year over year in July. This marked the first annual increase in the index series since March 2023.
Source: New Housing Price Index, July 2024
Non-residential sector drives the June 2024 increase in building construction
Investment in building construction grew 2.8% to $21.4 billion in June, after a slight increase of 0.8% in May. The June increase in investment in building construction was primarily driven by the residential sector (+3.8% to $15.0 billion), while the gains in the non-residential sector (+0.4% to $6.4 billion) were modest. Year over year, investment in building construction rose 10.0% in June, following a 7.0% increase in May.
Source: Investment in building construction, June 2024
More core-aged men and older women receive regular Employment Insurance benefits in June 2024
In June, the number of Canadians receiving regular Employment Insurance (EI) benefits totalled 474,000, up 1.3% (+6,000) from a month earlier. The number of regular EI beneficiaries among core-aged men (25 to 54 years old) rose by 2.1% (+3,800) in June, the second consecutive monthly increase. Women aged 55 and older (+2.7%; +1,300) also posted increases in the month, after also increasing in May.
Source: Employment Insurance, June 2024
Sales down at motor vehicle and parts dealers in June 2024
Retail sales decreased 0.3% to $65.7 billion in June. Sales were down in four of nine subsectors and were led by decreases at motor vehicle and parts dealers. Core retail sales—which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers—were up 0.4% in June. In volume terms, retail sales increased 0.1% in June.
Source: Retail trade, June 2024
Ontario drives increase in non-residential waste in 2022
In 2022, 15.9 million tonnes of non-residential waste were produced, representing the highest amount since 2010 (15.5 million tonnes), while residential waste reached 10.7 million tonnes, down for the third consecutive year going back to 2018. Ontario’s 7.0 million tonnes of non-residential waste in 2022 is the highest on record for that province and was up by 530 020 tonnes from 2020. Quebec (+255 264 tonnes), British Columbia (+47 120), Saskatchewan (+5 566) and Newfoundland and Labrador (+843) also recorded increases over the same period.
Source: Less diversion and more non-residential sources push Canada’s waste disposal to new high in 2022
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