Canadians feel grocery inflation getting worse, two in five boycotting Loblaw: poll
Almost two-thirds of Canadians feel that inflation at the grocery store is getting worse, a new poll suggests, even as food inflation has been steadily cooling.
Electric car sales will rise strongly in 2024 and increasingly undercut oil demand, the International Energy Agency (IEA) forecast on Tuesday, adding affordability and charging infrastructure would be key to future growth.
Electric car sales will hit 17 million this year, compared to 14 million in 2023, with more than one in five cars sold globally set to be electric, the IEA said, predicting 10 million of those sales would be in China.
The pace of electric vehicle uptake will mean that oil demand for road transport should peak around 2025, the Paris-based watchdog said in its Global Electric Vehicle Outlook.
If countries carry through on stated energy and climate policies, some six million barrels per day (bpd) will be shaved off oil demand by 2030 and 11 million bpd by 2035 - or over a tenth of current total oil demand, the IEA said.
"Tight margins, volatile battery metal prices, high inflation, and the phase-out of purchase incentives in some countries have sparked concerns about the industry’s pace of growth, but global sales data remain strong," it said of EV demand.
Sales in the first quarter of this year were up 25% on the same period last year. Though that rate is unchanged from the first quarter of 2023 versus the comparable period in 2022, it comes on top of a larger base of vehicles, the IEA said.
Still, electric cars' share of total purchases will vary widely by region, representing about one in nine vehicle purchases in the United States, one in four in Europe, but nearly half in China, the IEA forecast.
Take up in Europe is being held back by "a generally weak outlook for passenger car sales and the phase-out of subsidies in some countries," it said.
Affordability compared to traditional vehicles remains key to the sector's growth, it added, with prices again varying widely by region.
Internal combustion cars remain more affordable than their electric equivalents in Europe and the United States, while in China nearly two-thirds of electric cars sold last year were cheaper than their traditional equivalents.
"Electric cars are generally getting cheaper as battery prices drop, competition intensifies, and carmakers achieve economies of scale," the IEA said, while noting that in some cases - adjusting for inflation - prices stagnated or even rose slightly between 2018 and 2022.
Meeting the growing demand for charging infrastructure will also pose a key challenge, the IEA added, with charging networks needing to grow six-fold by 2035.
(Reporting by Noah Browning; Editing by Mark Potter)
Almost two-thirds of Canadians feel that inflation at the grocery store is getting worse, a new poll suggests, even as food inflation has been steadily cooling.
Ticks are parasitic bloodsuckers, capable of spreading deadly disease, and they’re becoming increasingly common. Here’s what you need to know about them.
Donald Trump had spent weeks needling U.S. President Joe Biden for his refusal to commit to a debate. But Washington political columnist Eric Ham describes how in one fell swoop, Biden ingeniously stole the issue from the Trump campaign and made it his own.
Norway, Ireland and Spain said on Wednesday they are recognizing a Palestinian state, in a historic but largely symbolic move that deepens Israel’s isolation more than seven months into its grinding war against Hamas in Gaza.
An Ontario mother lost $2,500 to a scammer pretending to be her daughter asking for help in late April.
A Montreal photographer captured the moment a Canada goose defended itself from a fox at the Botanical Garden.
From artificial intelligence running wild to collapsing ecosystems, a new Canadian government report outlines 35 disruptions that could rattle the country in the near future.
In his latest column for CTVNews.ca, former NDP leader Tom Mulcair argues that if there's an unofficial frontrunner in the eventual race to replace Justin Trudeau as Liberal leader, it has to be former Bank of Canada governor Mark Carney.
Police in Ontario say a group of suspects charged in an armed home invasion north of Toronto last year were driving a vehicle stolen in a carjacking in Calgary just one month earlier.
A Montreal photographer captured the moment a Canada goose defended itself from a fox at the Botanical Garden.
Public libraries in Atlantic Canada are now lending a broader range of items.
Flashes of purple darting across the sky mixed with the serenading sound of songs will be noticed more with spring in full force in Manitoba.
Catching 'em all with impressive speed, a 7-year-old boy from Windsor, Ont. who only started his competitive Pokémon journey seven months ago has already levelled up to compete at a world championship level.
A sanctuary dedicated to animals with disabilities is celebrating the third birthday of one of its most popular residents.
2b Theatre recently moved into the old Video Difference building, seeking to transform it into an artistic hub, meeting space, and temporary housing unit for visiting performers in Halifax.
A B.C. woman says her service dog pulled her from a lake moments before she had a seizure, saving her life.
A Starbucks fan — whose name is Winter — is visiting Canada on a purposeful journey that began with a random idea at one of the coffee chain's stores in Texas.
Members of Piapot First Nation, students from the University of Winnipeg and various other professionals are learning new techniques that will hopefully be used for ground searches of potential unmarked grave sites in the future.