Close X
Thursday, September 19, 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

2 new judges appointed to BC's Provincial Court

2 new judges appointed to BC's Provincial Court
British Columbia's government has appointed two new Provincial Court judges to support consistent and timely access to justice. Parveen Nijjar and Paul Pearson have both been appointed and are set to start on July 25th.

2 new judges appointed to BC's Provincial Court

Liberal MP Ken McDonald says he won’t run again

Liberal MP Ken McDonald says he won’t run again
Liberal MP Ken McDonald, who opposed his party over the federal carbon price, says he won’t run in the next federal election. McDonald has represented the riding of Avalon in Newfoundland and Labrador since 2015, when Prime Minister Justin Trudeau’s Liberals won a majority government.

Liberal MP Ken McDonald says he won’t run again

CBC broadcaster Rick Cluff, ex-host of Vancouver's The Early Edition, dead at 74

CBC broadcaster Rick Cluff, ex-host of Vancouver's The Early Edition, dead at 74
Former CBC radio journalist and personality Rick Cluff, who was the longtime host of The Early Edition morning show in Vancouver, has died at the age of 74. The public broadcaster says Cluff died shortly after being diagnosed with cancer.

CBC broadcaster Rick Cluff, ex-host of Vancouver's The Early Edition, dead at 74

Bell files injunction seeking to block Rogers from broadcasting Warner Bros. content

Bell files injunction seeking to block Rogers from broadcasting Warner Bros. content
In a court application filed June 19, the BCE Inc. subsidiary said a licensing deal that was announced nine days earlier between Warner Bros. and Rogers breached non-compete provisions that Bell had in place when it previously acquired the rights to the content.

Bell files injunction seeking to block Rogers from broadcasting Warner Bros. content

Complex shoplifting in Metro Vancouver

Complex shoplifting in Metro Vancouver
Two individuals involved in a series of complex shoplifting cases in Metro Vancouver have pleaded guilty and were sentenced for their roles. Surrey Mounties say 51-year-old Nicoleta Rusu and 39-year-old Emil Marian Stan stole goods such as high-end fragrances and athletic clothing valued at 53-thousand dollars over a six-month span.

Complex shoplifting in Metro Vancouver

Road rage incident in Richmond

Road rage incident in Richmond
Police in Richmond are on the lookout after a road rage incident resulted in the occupant of one car opening fire on the driver of another vehicle. Richmond R-C-M-P say they responded to a call of shots fired on Hollybridge Way on the evening of June 28th.

Road rage incident in Richmond