Wednesday, July 8, 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

Guilty plea from Vancouver hit and run suspect

Guilty plea from Vancouver hit and run suspect
A man charged in a fatal hit and run in Vancouver last year has pleaded guilty to criminal negligence causing death. Eoghan Byrne was killed on July 19th, 2022 in the Kitsilano neighbourhood in a collision that was captured on surveillance video.  

Guilty plea from Vancouver hit and run suspect

Hundreds of foreign-trained doctors boosting B.C. family medicine: Dix

Hundreds of foreign-trained doctors boosting B.C. family medicine: Dix
British Columbia Health Minister Adrian Dix says almost all of the 666 international medical graduates registered in the province this year are now working as doctors, with more than half in family medicine. Dix's comments come amid ongoing health-care woes including hospital overcrowding and many residents being left without a family doctor.

Hundreds of foreign-trained doctors boosting B.C. family medicine: Dix

Woman, 72, uses shovel to chase naked intruder from her Vancouver home, police say

Woman, 72, uses shovel to chase naked intruder from her Vancouver home, police say
Police say a 72-year-old woman used a shovel to chase a combative and naked man from her Vancouver home on Tuesday night. Vancouver police say in a statement the man entered the home by smashing a window with a pointed metal rod.

Woman, 72, uses shovel to chase naked intruder from her Vancouver home, police say

73-year-old man faces multiple charges after vehicle crashes through dollar store

73-year-old man faces multiple charges after vehicle crashes through dollar store
Mounties in Creston says a 73-year-old man faces multiple charges, including impaired driving, after a vehicle crashed through a dollar store on Monday morning. Police say damage to the store was significant after the vehicle drove through the front window of the Your Dollar Store with More. 

73-year-old man faces multiple charges after vehicle crashes through dollar store

Over 50 arrests in Kelowna retail theft

Over 50 arrests in Kelowna retail theft
Kelowna Mounties say an operation targeting shoplifters over a seven-day period this month resulted in more than 50 arrests. Police say the operation was in response to concerns from Kelowna's retail sector about theft and violence at stores.

Over 50 arrests in Kelowna retail theft

Ties with India appear to have undergone 'a tonal shift': Canada's Trudeau

Ties with India appear to have undergone 'a tonal shift': Canada's Trudeau
Canadian Prime Minister Justin Trudeau has said that Ottawa's relations with New Delhi appear to have undergone "a tonal shift", following US indictment of an Indian national in a plot to kill a Sikh separatist on American soil. The US indictment appears to have convinced the Narendra Modi government to adopt a more sober tone, Trudeau told CBC news channel in a year-end interview.  

Ties with India appear to have undergone 'a tonal shift': Canada's Trudeau