Plunging Gas Prices Lower Inflation

Plunging Gas Prices Lower InflationA combination of Christmas sales and falling gasoline and food prices contributed to one of the biggest one-month drop in consumer prices in years in December, Statistics Canada said Friday. The 0.6 per cent overall decline in prices from November slashed the annual inflation rate by a similar amount to 2.3 per cent. The one-month decline was the steepest since the summer of 2009, when the country was in recession….

Read More >>

Cross-Border Shopping to Rise

Cross-Border Shopping to RiseMore Canadians plan cross-border shopping over the holiday season, according to a survey released Friday by the Bank of Montreal. The Bank’s survey found 18 per cent of those polled plan to shop in the United States this season, up five percentage points from last year. The peak American retail season begins on Nov. 25 or Black Friday, the day following American Thanksgiving. It gets its name from the fact…

Read More >>

Debt Worries May Put Damper on Holiday Buying

Debt Worries May Put Damper on Holiday BuyingFeelings of financial insecurity could overwhelm the Christmas giving spirit, making Canadians less likely to splurge on holiday shopping this season, according to a survey released Tuesday by Deloitte Canada. With a growing number of respondents pessimistic about the economy and more people choosing to pay down their debts, holiday budgets could be squeezed. Only 29 per cent of Canadians surveyed said they expect the economy to improve in the…

Read More >>

Spend Prepaid Visa Cards Quickly to Avoid Fees

Spend Prepaid Visa Cards Quickly to Avoid FeesSam Bornstein paid a penalty for his delay in using a Christmas gift he’d received in December 2009. His $50 prepaid MyTreat Visa card was refused as payment for a $48.08 purchase at a Boxing Day sale last weekend. What happened? The card’s $2 monthly maintenance fee, which kicked in after 12 months, reduced its value to $48. So he was short by 8 cents. “I was not advised of…

Read More >>