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

Experts eye interest rate in 2024 as assessed property values stabilize in B.C.

Experts eye interest rate in 2024 as assessed property values stabilize in B.C.
The assessed value of a single-family home in Vancouver which reflected the market on July 1, 2023, rose four per cent to just above $2.2 million, while strata properties remained nearly unchanged at $807,000.  

Experts eye interest rate in 2024 as assessed property values stabilize in B.C.

Records for warmest December set or tied in Vancouver and other parts of B.C.

Records for warmest December set or tied in Vancouver and other parts of B.C.
Data from Environment Canada has confirmed what winter sport enthusiasts have known for a while — December was warm in British Columbia. Five communities in the province set or equalled temperature records for the month while the warm weather, combined with a lack of rain or snow, has done little to ease ongoing drought concerns.   

Records for warmest December set or tied in Vancouver and other parts of B.C.

Vancouver region closes out 2023 with higher home sales, average price of $1,168,700

Vancouver region closes out 2023 with higher home sales, average price of $1,168,700
The Real Estate Board of Greater Vancouver says December home sales rose compared with a year earlier as the region closed out 2023 with balanced market conditions despite high borrowing costs. The board says 1,345 homes changed hands in December, a 3.2 per cent increase from the same month in 2022, but 36.4 per cent below the 10-year seasonal average.

Vancouver region closes out 2023 with higher home sales, average price of $1,168,700

TransLink launches new R-6 Scott Road RapidBus for Surrey

TransLink launches new R-6 Scott Road RapidBus for Surrey
TransLink says its new R-6 Scott Road RapidBus is now cruising the streets on what it calls the busiest bus corridor south of the Fraser.  TransLink says the R-6 is geared toward Surry and Delta residents and Kwantlen University students, who can expect to shave a few minutes off their trips between Scott Road station and the Newton bus exchange. 

TransLink launches new R-6 Scott Road RapidBus for Surrey

One dead in Surrey house fire

One dead in Surrey house fire
One person died on New Year's Day in a house fire in Surrey. Mounties say four occupants of the house escaped and are being treated for non-life threatening injuries.

One dead in Surrey house fire

Roman Arinder Gill & Shaun Narinder Gill charged following shots fired in Guildford

Roman Arinder Gill & Shaun Narinder Gill charged following shots fired in Guildford
On December 30th of last year 24-year-old Roman Arinder Gill and 28-year-old Shaun Narinder Gill were charged with various firearm offences.  Mounties say officers were called Friday to a report of shots fired, when two suspects fled the area in a blue Range Rover.

Roman Arinder Gill & Shaun Narinder Gill charged following shots fired in Guildford