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

Finance Minister Chrystia Freeland to present Liberals' federal budget on April 16

Finance Minister Chrystia Freeland to present Liberals' federal budget on April 16
Finance Minister Chrystia Freeland will present the federal budget on April 16, as cost-of-living issues continue to dominate Canadian politics. The spending plan is coming at a time when high interest rates are putting a damper on the economy and ramping up fiscal pressure on the Liberal government.  

Finance Minister Chrystia Freeland to present Liberals' federal budget on April 16

One measles case reported in B.C. as officials urge vaccination before travel

One measles case reported in B.C. as officials urge vaccination before travel
Measles outbreaks internationally have health officials in British Columbia joining Canada's top doctor in encouraging people to get vaccinated before travelling abroad during spring break. One case of measles was reported in B.C. over the weekend, according to a joint bulletin issued Monday by the provincial government, the BC Centre for Disease Control and the provincial health officer. 

One measles case reported in B.C. as officials urge vaccination before travel

1 in hospital in Burnaby crash

1 in hospital in Burnaby crash
Police in Burnaby say an early morning car crash on Imperial Street has left one person in hospital in critical condition.  Burnaby R-C-M-P say the crash happened around 1:30 a-m, when a vehicle with a driver and two passengers hit a parked semi-truck. 

1 in hospital in Burnaby crash

Fire that gutted Metro Vancouver school caused by humans, police say

Fire that gutted Metro Vancouver school caused by humans, police say
Police say they believe a fire last October that destroyed an elementary school in Port Coquitlam, B.C., was human caused. Coquitlam RCMP say the investigators are now asking those responsible or people who may know who is responsible to come forward and contact police.

Fire that gutted Metro Vancouver school caused by humans, police say

Surrey RCMP at scene of collision with natural gas leak

Surrey RCMP at scene of collision with natural gas leak
Surrey RCMP is at the scene of a motor vehicle collision in the area of 66th Avenue and 128 Street, where one vehicle has hit a natural gas meter.  Fortis BC has been advised, and the immediate area is being evacuated as a precaution until crews can arrive to make repairs. 

Surrey RCMP at scene of collision with natural gas leak

Overdose toll hit 198 in January, down 10 percent but over 6 deaths a day

Overdose toll hit 198 in January, down 10 percent but over 6 deaths a day
The overdose death toll in January reached 198 people, down about 10 per cent from the same month last year, but still more than six deaths a day.  The B-C Coroners Service says the majority of those who died were male and the highest death rate was in north and central Vancouver Island and the northern Interior. 

Overdose toll hit 198 in January, down 10 percent but over 6 deaths a day