Tuesday, July 7, 2026
ADVT 
National

Unexpected dip in inflation rate in June

Darpan News Desk The Canadian Press, 17 Jul, 2024 03:25 PM
  • Unexpected dip in inflation rate in June

The inflation rate fell to 2.7 per cent in June, but the pace of growth in grocery prices accelerated for the second month in a row.

Statistics Canada reports grocery prices rose 2.1 per cent year-over-year in June, up from May's increase of 1.5 per cent. 

This is the last inflation report before the Bank of Canada's next interest rate decision next Wednesday.

C-I-B-C senior economist Katherine Judge says this morning's data gives the Bank of Canada what it needs in order to cut interest rates.

B-MO macro strategist Benjamin Reitzes predicts it will be a bit of a grind to reach the central bank's target of annual inflation rate of two per cent and doesn't think it will hit that mark before mid-to-late next year.

Canada's annual inflation rate was 2.7 per cent in June, Statistics Canada says. The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets):

— St. John's, N.L.: 2.8 per cent (3.2)

— Charlottetown-Summerside: 3.7 per cent (3.4)

— Halifax: 3.6 per cent (3.8)

— Saint John, N.B.: 2.6 per cent (2.7)

— Quebec City: 2.2 per cent (3.0)

— Montreal: 2.5 per cent (3.2)

— Ottawa: 2.7 per cent (2.7)

— Toronto: 3.4 per cent (3.4)

— Thunder Bay, Ont.: 1.6 per cent (2.2)

— Winnipeg: 1.5 per cent (1.4)

— Regina: 1.4 per cent (1.5)

— Saskatoon: 1.9 per cent (1.5)

— Edmonton: 2.7 per cent (2.8)

— Calgary: 3.6 per cent (3.6)

— Vancouver: 2.3 per cent (3.1)

— Victoria: 2.9 per cent (2.9)

— Whitehorse: 1.9 per cent (2.3)

— Yellowknife: 1.8 per cent (2.6)

— Iqaluit: 1.0 per cent (0.6)

Canada's annual inflation rate was 2.7 per cent in June, Statistics Canada says. Here's what happened in the provinces (previous month in brackets):

— Newfoundland and Labrador: 2.3 per cent (2.6)

— Prince Edward Island: 3.4 per cent (3.2)

— Nova Scotia: 3.5 per cent (3.7)

— New Brunswick: 2.8 per cent (2.9)

— Quebec: 2.2 per cent (3.1)

— Ontario: 3.0 per cent (3.0)

— Manitoba: 1.4 per cent (1.3)

— Saskatchewan: 1.4 per cent (1.5)

— Alberta: 3.0 per cent (3.0)

— British Columbia: 2.6 per cent (2.9)

MORE National ARTICLES

Indo-Canadian charged for trying to transport cocaine worth $4.86 mn

Indo-Canadian charged for trying to transport cocaine worth $4.86 mn
Sukhwinder Dhanju was arrested by the Canadian Border Services Agency (CBSA) on September 26 last year after he arrived at the primary inspection booth at the Queenston-Lewiston Bridge port of entry in Niagara-on-the-Lake in Ontario province. The driver was referred for secondary examination of his truck and trailer, the Royal Canadian Mounted Police (RCMP) said in a release issued on Wednesday.

Indo-Canadian charged for trying to transport cocaine worth $4.86 mn

Government was warned two years ago high immigration could affect housing costs

Government was warned two years ago high immigration could affect housing costs
Federal public servants warned the government two years ago that large increases to immigration could affect housing affordability and services, internal documents show.  Documents obtained by The Canadian Press through an access-to-information request show Immigration, Refugees and Citizenship Canada analyzed the potential effects immigration would have on the economy, housing and services, as it prepared its immigration targets for 2023 to 2025. 

Government was warned two years ago high immigration could affect housing costs

Bitter cold from Arctic intrusion hits B.C., much of Western Canada

Bitter cold from Arctic intrusion hits B.C., much of Western Canada
Bitter cold is descending on Western Canada, with Prairie cities already seeing -30 C temperatures and southwestern British Columbia bracing for an Arctic outflow and an overdue blast of winter. Temperatures in Calgary and Edmonton have dipped to -29 C and -31 C respectively with lows of -38 C possible Friday.

Bitter cold from Arctic intrusion hits B.C., much of Western Canada

Sharp decline in spring snowpack due to human-caused climate change: study

Sharp decline in spring snowpack due to human-caused climate change: study
Human-caused climate change is behind a decline in spring snowpack across parts of Southern Canada and the Northern Hemisphere, says a new study that offers widespread caution of how a warming planet could transform winter and affect water security. 

Sharp decline in spring snowpack due to human-caused climate change: study

RCMP arrest stolen car suspect in Nelson, B.C., after officer hurt in road block

RCMP arrest stolen car suspect in Nelson, B.C., after officer hurt in road block
Police say a 42-year-old man from Trail, B.C., has been arrested after allegedly driving a stolen vehicle that hit three police cars and injured an officer at a roadblock. Mounties say an officer in Salmo, B.C., saw a stolen Toyota Tundra on Tuesday and tried to stop the vehicle, but the suspect sped away.  

RCMP arrest stolen car suspect in Nelson, B.C., after officer hurt in road block

Surrey RCMP launches new tool to spread awareness about gang violence

Surrey RCMP launches new tool to spread awareness about gang violence
R-C-M-P in Surrey are using a new tool to educate young people about gang violence in the hopes of discouraging their involvement in them. Officers from the Mounties' gang enforcement team will be sharing a new video specifically created for Surrey youth during school presentations.

Surrey RCMP launches new tool to spread awareness about gang violence