Canadian Inflation Cools to 1.6% in September

Author

Jay Lutz
October 15, 2024

Sponsored by Rua Gold

Canadian Inflation Cools to 1.6% in September

Canada’s annual inflation rate decelerated to 1.6% in September, down from 2.0% in August, marking the slowest pace of price growth since February 2021, Statistics Canada reported on Tuesday. The cooling inflation was primarily driven by a sharp decline in gasoline prices.

The Consumer Price Index (CPI) fell 0.4% on a monthly basis in September, following a 0.2% drop in August. Gasoline prices plummeted 7.1% month-over-month and were down 10.7% compared to a year ago, reflecting lower crude oil prices amid concerns over weakening economic growth.

You can read more on the matter here.

Rua Gold Corp (CSE: RUA) is exploring for high grade gold in the re-emerging gold jurisdiction of New Zealand, where the company is already drill testing its Reefton project. Early results from the program include 16.4 g/t gold over 7 metres at a new discovery known as the Pactolus Vein, while the region is said to be wide open at depth. The region is ripe with activity, with OceanaGold recently selling an adjacent project for $30 million, which boasted a resource containing gold grades of 23 g/t.

To learn more, attend a free webinar with CEO Robert Eckford On September 24th at 10AM PT.

What’s going on?

  • Diplomatic Row Intensifies Between Canada and India Amid Foreign Interference Allegations (theDeepDive)

  • India calls expulsions of diplomats from Canada ‘preposterous imputations’ driven by Trudeau’s agenda (Globe)

  • Seoul on High Alert as Pyongyang Threatens to Blow Up Border Connections (theDeepDive)

  • US election bets surge after court lifts ban (FT)

  • How a rare type of mortgage is landing homebuyers a 3% rate (CNBC)

  • Canadian Government Considers 3% Tax On Vacant Land, Because Of Course (theDeepDive)

  • Boeing lines up $35 billion in funds as strike hammers finances (Reuters)

  • Carbon Tax: A Costly Catastrophe for Canadians, PBO Report Reveals (theDeepDive)

  • NYT sends AI startup Perplexity 'cease and desist' notice over content use (Reuters)

  • Canada Is Still Pushing Forward with Net-Zero Climate Disclosures (theDeepDive)

  • Fed’s Daly Says Officials Must Stay Vigilant to Guard Growth (Bloomberg)

Costco gold sales: Middle class turning to precious metals?

The stock market and stuff

  • Copper Prices Set to Soar: Analysts Predict All-Time High in Q4 2024 (theDeepDive)

  • Goldman Sachs profits jump 45% to $3bn after trading boost (FT)

  • Cameco Signals Production Expansion Freeze Until Uranium Prices Catch Up (theDeepDive)

  • U.S. crude prices fall 5% as Israel is not expected to strike Iran’s oil industry (CNBC)

  • Did Jagmeet Singh Inflate Cenovus’ Profits? (theDeepDive)

In the juniors

  • Rua Gold’s Drilling Program Yields Promising Gold Intercepts in New Zealand’s Reefton Project (theDeepDive)

  • Golden Cariboo Resources Intersects Visible Gold and Veining in Recent Drilling, Including Veining 150 m North of Known Mineralization; Completes MMI and Mapping Programs (JMN)

  • DoNotPay Part 2? An ‘AI Law Firm’ Is Trying to ‘Revolutionize Legal Services for Startups’ (theDeepDive)

FULL DISCLOSURE: Rua Gold is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Rua Gold on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.