After receiving input from downtown business owners, Lacombe city council approved a public consultation process targeting parking improvements in the downtown core.

The City says they often receive requests for more parking in the area. While they admit some requests cannot be accommodated due to space limitations, site lines and other considerations, the City says they do look to advance adequate access and to work with businesses whenever possible.

Administration evaluated improvements to two areas which will add an estimated 25 new parking stalls downtown:

• The public parking lot at 5026 49 St (+8 parking stalls)

• On-street parking along 49B Ave (+17 parking stalls)

Click HERE to read more.

Rising costs can be discouraging, nerve wracking and are completely out of our control! So, by trying to manage what you CAN control, like your day to day finances, it can help mitigate those feelings. Here are five ways to combat inflation;

1. Tracking Your Spending: budgeting and understanding where your money is going is the easiest way to identify areas to cut back or find alternatives.

2. Actively Manage Debt: It is important to pay off debt with the highest interest rate first, and then work your way down the list. 

3. Utilize Cash Back Opportunities: Engage with your bank about cash back credit cards or bank accounts. That way you are making money while spending it.

4. Coupons, Discounts and Sales Are Your Friends: There are apps that you can get and websites that showcase coupons/sales/ discounts for stores you frequently shop at.

5. Avoid Volatile Investments: now is not the time to be taking risks on stocks for companies carrying a lot of debt.       

Lacombe and Area Market Stats as of Jan 3/2023.

Canada’s headline inflation reading continued to fall in November, but core inflation rose, increasing the potential for an additional Bank of Canada rate hike in January.

The headline Consumer Price Index (CPI) continued to slow to an annual growth rate of 6.8% in November, just a tick down from 6.9% in October, according to data from Statistics Canada.

But the average of the Bank of Canada’s three preferred measures of core inflation, which excludes food and energy prices, rose to 5.4% from an upwardly revised reading of 5.3% for October.

“Inflation is easing, but progress in November was slower than expected,” CIBC economist Andrew Grantham noted.

While the headline reading eased slightly and was just a tick above the consensus expectation, “of greater concern to policymakers…is that the easing in core measures of inflation (including CPI-trim, median and ex food/energy) appears to have stalled at levels still above those that would be consistent with a 2% inflation target,” he added.

Rising interest costs helping to drive inflation

Rising shelter costs contributed to the higher-than-expected inflation reading, with overall shelter costs up 7.2% year-over-year.

Within that category, mortgage interest costs were up 14.5%, “amid the higher interest rate environment,” Statistics Canada noted. This was the largest increase for this category since 1983.

Rent, meanwhile, is 5.9% above year-ago levels, with the fastest acceleration regionally in Prince Edward Island (+12.6%), British Columbia (+7.2%), Quebec (+5.3%) and Ontario (+7.1%).

These increases were balanced by a continued moderation of “homeowners’ replacement cost,” which is related to the cost of new homes. That was up 5.8%, down from a peak growth rate of over 13.6% last December.

The “other owned accommodation expenses” basket, which includes real estate commissions, was up just 3.7% (vs. 12.2% in June and a peak of 17.2% in April) as home prices continue to decline.

Both of these indexes have been slowing every month since May, reflecting a “general cooling of the housing market,” StatCan added.

Click here for more detail.

Wishing everyone a Happy New Year!  My this year and beyond be filled with Joy, Peace and Love!