WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Data from the United States Labor Department revealed on Wednesday the consumer price index (CPI) increased at an annualized rate of 6.2 per cent in October, the highest rate of inflation in the country in 31 years. The CPI also rose 0.9 per cent from September, the largest increase in four months. Both totals exceeded predictions from economists. Higher prices for energy, shelter, food and vehicles were responsible for the increase, indicating that inflation will last longer than previously thought.
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– The European Union is preparing to vote on Wednesday in favour of new sanctions against Belarus. The EU accuse the Eastern European nation of encouraging migrants from the Middle East, Afghanistan and Africa to enter Poland from Belarus as retaliation for imposing earlier sanctions for human rights abuses. Belarus President Alexander Lukashenko denies sending migrants west and its ally Russia has sent two bombers to patrol Belarus airspace.
– The World Health Organization reported on Wednesday that Europe has seen a 10 per cent jump in the number of COVID-19-related deaths over the past week and is the only region where both new cases and deaths are increasing. The agency said there were 3.1 million new cases globally from Nov. 1 to 7 with 1.9 million originating in Europe. The number of COVID-19 deaths fell four per cent worldwide and declined in every region except Europe.
