Inflation Falls Below Zero in Canada for First Time Since 2009

Inflation Falls Below Zero in Canada for First Time Since 2009”

Excluding energy, however, the CPI rose 0.7%.

"On month on month basis however, April 2020 food inflation was highest in Akwa Ibom, Lagos and Oyo, while Bayelsa, Ebonyi and Enugu recorded price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate)", the NBS said.

"We expect the battle against COVID-19, moderating crude oil prices and the depreciation of the Naira against the Dollars to negatively impact on the general price level in the coming months".

The uptick in prices for household cleaning products and toilet paper is a result of increased demand.

"Falling petrol and diesel prices, combined with changes to the domestic energy price cap were the main reasons for lower inflation in April", ONS Deputy National Statistician Jonathan Athow said.

Hotel fees and foreign travel prices sank while the cost of durable goods edged down as consumers stayed home amid the virus woes.

Laura Suter, personal finance analyst at investment platform AJ Bell, said it was likely that as shops start re-opening retailers would deeply discount prices, putting further downward pressure on inflation.

UK inflation tumbled to lowest level in four years in April, says ONS

"No surprise then that United Kingdom consumer price inflation" tanked in April.

The federal government had on May 2, 2020, directed the release of about 17,500 metric tonnes of assorted grains from the Yola National Food Reserve site for distribution as palliatives to Nigerians.

The data highlights the challenge the Bank of Japan faces amid the ongoing coronavirus pandemic to achieve its elusive 2% inflation target.

Most economists had expected April's inflation to fall to 0.9%, and have predicted the rate will fall further as the economic fallout of the pandemic continues.

Core inflation, which factors out volatile items like energy prices and are often seen as a better measure of underlying price pressure, declined to 1.8% from 1.83% in the prior month, the lowest level since January 2019.

But the country experienced a decade of low inflation following the 2008 financial crisis even after the Bank of England slashed interest rates and launched a sweeping asset-purchasing programme.

More news: In Full 4K UHD on Samsung TV Plus

Like this



22 May 2020
Facebook says half of its employees might be remote
This is applicable in not only hiring but also in retaining some employees who just had to quit as they were relocating, he added. Those choosing to continue working remotely will be required to report their locations to the company, Zuckerberg said.

22 May 2020
Megan Fox & Machine Gun Kelly Spark Relationship Questions
Later Brian Austin Green was reported to have confirmed the collapse of their marriage. Megan Fox and Brian Austin Green married in June 2010 after six years of dating.

22 May 2020
Healthcare workers in United Kingdom begin COVID-19 hydroxychloroquine trial
But the authors stressed that anyone taking these drugs for other conditions should not stop taking them as the trial looked specifically at Covid-19.

22 May 2020
NASCAR Returns To TV, Grabs 6.3 Million Viewers On Fox 05/19/2020
Sunday's race - and all scheduled NASCAR events through June 21 - are scheduled to be held without fans in attendance. If both the Xfinity and Cup races are postponed, Xfinity will run at noon ET Thursday and Cup will run at 7 p.m.

22 May 2020
City of Toronto to give you more room to run
In a release the City also said staff is preparing more than 600 tennis courts at 185 locations, to begin to open this weekend. Two of the city-owned golf courses, Fanshawe Golf Course and Thames Valley Golf Course, opened to the public last weekend.

22 May 2020
Man in Singapore Sentenced to Death by Hanging Via Zoom Call
Human rights groups also condemned this sentence after it was also carried out via Zoom. It has defended capital punishment as a deterrent for the most serious crimes.

22 May 2020
Apple could stop bundling EarPods with iPhones this year
However, the TF Securities analyst in a note to the analysts said that Apple is expected to leave out the wired earphones. As Apple's iPhone sales have faltered over the course of 2019, Apple's wearables division has continued to grow.

22 May 2020
Lady Gaga Admits She Was 'Too Ashamed' To Be Ariana Grande's Friend
In a detailed interview with Zane Lowe for Apple Music, Gaga spoke candidly about how she was ashamed to strike a friendship with Ariana .

22 May 2020
LA County is aiming to reopen safely by July 4
Similar to the previous study, men were more likely than women to have been infected; 2.8% among men and 1.4% among women. The 3-day average for current hospitalizations per day is 1,532, a 15% decrease from the prior 3-day average.

22 May 2020
Sourav Ganguly Great Fit To Be ICC President: Graeme Smith
Sourav Ganguly made immediate impact after taking over as the president of Board of Control For Cricket in India ( BCCI ) past year with some key decisions.