Canada's Trudeau Aims to Provide Inflation Relief for Low Incomes

Canadian Prime Minister Justin Trudeau is set to unveil measures to provide inflation relief to low-income families, a government source said, confirming reports in domestic media, Reuters reported. Inflation eased to 7.6% in July from an almost four-decade high of 8.1%. But the Bank of Canada is still concerned about rising prices and is promising further interest rate hikes after increasing them to their highest level in 14 years on Wednesday. Trudeau's Liberal government will boost a tax-free quarterly payment that helps individuals and families with low and modest incomes offset sales tax, which is called the goods and services tax (GST) in Canada, said the source, who was not authorized to speak on the record. The government will also provide a C$500 ($381) onetime top-up to a housing benefit that is provided to low earners who need help paying rent, and it will provide initial details for a dental-care plan for low-income families. Read more.