Close X
Wednesday, November 27, 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

B.C.'s first health centre catering to francophone community to open in the fall

B.C.'s first health centre catering to francophone community to open in the fall
A new health centre dedicated to serving British Columbia's French-language speakers will open its doors this fall in Vancouver.  A statement from B.C.’s Ministry of Health says the current Vancouver Urban Health Centre cannot accommodate the needs of the Lower Mainland’s growing French-speaking community even though it offers primary care in both French and English. 

B.C.'s first health centre catering to francophone community to open in the fall

Calgary mayor: no more breaks found in remaining 300 metres of failed water main

Calgary mayor: no more breaks found in remaining 300 metres of failed water main
Five additional areas requiring further repair along the feeder main were detected late last week, but Calgary Mayor Jyoti Gondek told an update Sunday that a robotic inspection of 300 metres more of the pipe found no further breaches.

Calgary mayor: no more breaks found in remaining 300 metres of failed water main

Alleged robbery involving 8 masked men

Alleged robbery involving 8 masked men
Mounties in Richmond are looking for witnesses to an alleged robbery in which the victim reported being attacked and robbed by as many as eight masked people. Police say the man was leaving a plaza in the area of Number 3 Road and Williams Road, where he says he was hit in the head with a weapon and his backpack was stolen.

Alleged robbery involving 8 masked men

B.C. establishes largest provincial park in a decade to protect threatened caribou

B.C. establishes largest provincial park in a decade to protect threatened caribou
A major provincial park expansion will create a protection zone of almost 2,000 square kilometres for caribou and other species in northeastern British Columbia. The Ministry of Environment says in a statement that the addition to the Klinse-za Park will make it the largest provincial park established in the province in a decade.

B.C. establishes largest provincial park in a decade to protect threatened caribou

Dangerous driver arrested in Coquitlam

Dangerous driver arrested in Coquitlam
RCMP are crediting their Air Services team with helping in the arrest of a dangerous driver in Coquitlam. The Mounties say a motorcyclist was seen speeding and weaving in and out of traffic along Coast Meridian Road near David Avenue on May 31st.

Dangerous driver arrested in Coquitlam

3 arrested in drug seizure

3 arrested in drug seizure
Mounties in Prince George say they arrested three people after executing a search warrant at a home in the city. They say officers found about 50 grams of suspected methamphetamine, 60 grams of suspected fentanyl, four replica firearms, ammunition, two-thousand dollars in cash and other drug trafficking paraphernalia at the home on Nicholson Street.

3 arrested in drug seizure