Close X
Saturday, November 16, 2024
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

Canadian man killed providing aid in Gaza was a military veteran with a young son

Canadian man killed providing aid in Gaza was a military veteran with a young son
A Canadian man killed along with six other aid workers in the Gaza Strip on Monday is a military veteran from Quebec who leaves behind a partner and a one-year-old son. Jacob Flickinger, 33, was one of seven people in a convoy of World Central Kitchen vehicles when it was hit by an Israeli airstrike in what Prime Minister Benjamin Netanyahu has described as a tragic mistake.

Canadian man killed providing aid in Gaza was a military veteran with a young son

Speed limiting devices to become mandatory on heavy B.C. commercial trucks

Speed limiting devices to become mandatory on heavy B.C. commercial trucks
The British Columbia Transportation Ministry says commercial trucks above a certain weight will soon be required to be fitted with technology to limit how fast they travel on provincial roadways.  The ministry says the "speed-limiter devices" will be mandatory on April 5 for commercial trucks weighing more than 11,793 kilograms and if they were built after 1994. 

Speed limiting devices to become mandatory on heavy B.C. commercial trucks

Banff bus fire strands U.K. students on ski trip; no injuries

Banff bus fire strands U.K. students on ski trip; no injuries
Two dozen youth visiting from the United Kingdom were shuttled to safety after their tour bus caught fire on a scenic highway in Banff National Park.  At about 5 p.m. yesterday, R-C-M-P in Lake Louise were called to the fire on the Icefields Parkway.  

Banff bus fire strands U.K. students on ski trip; no injuries

Solo skier dies in avalanche in eastern B.C. Rockies

Solo skier dies in avalanche in eastern B.C. Rockies
A solo skier has been found dead days after an avalanche in eastern British Columbia.  Avalanche Canada says the snow slide happened Friday on Cathedral Mountain in Yoho National Park.

Solo skier dies in avalanche in eastern B.C. Rockies

No tsunami danger to B.C. after earthquake in Taiwan, officials say

No tsunami danger to B.C. after earthquake in Taiwan, officials say
There appears to be no tsunami threat to the Pacific coastal areas of North America following a strong earthquake in Taiwan. The U.S. National Tsunami Warning Center says no tsunami is expected in B.C., Alaska, California, Oregon or Washington state.

No tsunami danger to B.C. after earthquake in Taiwan, officials say

B.C. to ban some 'personal use' evictions, stop rent increases over new children

B.C. to ban some 'personal use' evictions, stop rent increases over new children
The British Columbia government is changing rental laws to stop bad-faith evictions, protect families who have had a child and help landlords with problematic tenants.  Premier David Eby said the government is seeing more landlords invoke the "personal use" rule, which allows them or their family to move into a unit, as an excuse to evict long-term tenants paying lower rents.

B.C. to ban some 'personal use' evictions, stop rent increases over new children