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Greater Niagara Chamber of Commerce

Daily Update: January 16

In this edition:

  • Rate of inflation accelerated to 3.4% in December
  • SucroCan Sourcing and HOPA Ports announce plan for Canada’s largest sugar refinery
  • University of Niagara Falls Canada partners with ILAC for new pathway
  • Why are Highway 407 ETR charges going up?
  • Focus on Sustainability

Rate of inflation accelerated to 3.4% in December

The Consumer Price Index (CPI) rose 3.4% on a year-over-year basis in December, following a 3.1% increase in November, Statistics Canada reported today.

While gasoline prices fell on a monthly basis for the fourth month in a row, the headline acceleration was largely the result of higher year-over-year prices for gasoline in December (+1.4%) compared with November (-7.7%). This was the result of a base-year effect where gasoline prices fell more on a monthly basis in December 2022 than they did in December 2023. Excluding gasoline, the headline CPI slowed year over year, from 3.6% in November to 3.5% in December.

The Consumer Price Index (CPI) rose 3.9% on an annual average basis in 2023, following a 40-year high increase of 6.8% in 2022 and a 3.4% increase in 2021.

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SucroCan Sourcing and HOPA Ports announce plan to build Canada’s largest sugar refinery

SucroCan Sourcing LLC, a growing integrated sugar refiner, has announced its plans to build Canada’s largest sugar refinery at the Port of Hamilton, Ontario, on lands owned by HOPA Ports (Hamilton-Oshawa Port Authority).

The new refinery will be the largest in Canada, with an expected future annual refining capacity of 1 million metric tonnes, representing an estimated investment of $135 million CAD.

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University of Niagara Falls Canada partners with ILAC for new pathway

University of Niagara Falls Canada (UNF) and ILAC and have signed a pathway agreement making it easier for students to take the next step in their educational journeys. Students enrolled in ILAC’s pathway programs now have the opportunity to fulfill their English proficiency requirements for both graduate and undergraduate programs at UNF by transferring directly from the qualifying university pathway programs provided by ILAC in Toronto or Vancouver.

Drivers will have to pay more for using Hwy. 407 after new toll rates kick in next month.

Set to take effect Feb. 1, the change will mean an increase of one to 11 cents per kilometre, depending on the time of day and stretch travelled.

“The majority of 407 ETR’s personal customers can expect a monthly bill increase of less than $5,” 407 ETR, the company responsible for tolls on the privately-owned 108-kilometre stretch of roadway between Pickering and Burlington, said in a news release.

Click here to read more.

Did you know?

It would take 181 million years to download all the data from the internet. 

Focus on Retail

What is happening to self-checkout?

The promise of self-checkout was alluring: Customers could avoid long lines by scanning and bagging their own items, workers could be freed of doing those monotonous tasks themselves and retailers could save on labour costs.

All that has happened since the rollout of self-checkout but so has this: Customers griping about clunky technology that spits out mysterious error codes, workers having to stand around and monitor both humans and machines, and retailers contending with theft.

Click here to read more.

Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.

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