News in Brief
Canadian inflation jumps
Reuters – Canada's annual inflation rate in August jumped to 4.0% from 3.3% in July on higher gasoline prices, data showed on Tuesday, a sign that the central bank may be forced to raise interest rates yet again after 10 hikes since March of last year.
The consumer price index rose 0.4% on a month-over-month basis in August, Statistics Canada said, compared with a predicted 0.3% gain. Two of the three core inflation measures also rose.
Solar panels go into service near North Pole
AFP – Norway has installed solar panels in its Svalbard archipelago, a region plunged in round-the-clock darkness all winter, in a pilot project that could help remote Arctic communities transition to green energy. Neatly lined up in six rows in a field, 360 solar panels will on Thursday begin providing electricity to an old shipping radio station, Isfjord Radio, now converted into a base camp for tourists.
Russia's oil, gas revenues set to rise
REUTERS –Russia's oil and gas revenues, which account for around a third of total federal budget proceeds, are set to rise to around 733 billion roubles ($7.6 billion) in September, up 14% from the previous month, Reuters calculations showed on Tuesday.
The corresponding figure in September 2022 was 688 billion roubles.
The rise reflects a 24% month-on-month increase to 1.1 trillion roubles in proceeds from a mineral extraction tax, according to the calculations, based on data from industry sources and official statistics on oil and gas production, refining and supplies on domestic and international markets.