Close X
Friday, November 15, 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. court date set for three accused of murdering Sikh activist Hardeep Singh Nijjar

B.C. court date set for three accused of murdering Sikh activist Hardeep Singh Nijjar
Three suspects accused of murdering British Columbia Sikh activist Hardeep Singh Nijjar last year are scheduled to appear in court in Surrey on Tuesday. Indian nationals Karanpreet Singh, Kamalpreet Singh, and Karan Brar are due to face charges of first-degree murder and conspiracy to murder at Surrey Provincial Court.

B.C. court date set for three accused of murdering Sikh activist Hardeep Singh Nijjar

Man charged with second-degree murder in White Rock, B.C., stabbing: RCMP

Man charged with second-degree murder in White Rock, B.C., stabbing: RCMP
Mounties say a man has been charged with second-degree murder in a fatal stabbing that shook the community of White Rock, B.C., last month. A statement from the Integrated Homicide Investigation Team says 27-year-old Dimitri Hyacinth from nearby Surrey is accused of killing Kulwinder Singh Sohi on April 23, two days after Hyacinth allegedly stabbed another man who survived the attack.

Man charged with second-degree murder in White Rock, B.C., stabbing: RCMP

Police say 3 men arrested, charged in the killing of B.C. Sikh activist, Nijjar

Police say 3 men arrested, charged in the killing of B.C. Sikh activist, Nijjar
Three Indian nationals have been charged with the murder of B.C. Sikh activist Hardeep Singh Nijjar, in a killing last year that threw Ottawa's relationship with New Delhi into disarray. Police say they are investigating if the Indian government was involved, an allegation raised by Prime Minister Justin Trudeau in the House of Commons last year.  

Police say 3 men arrested, charged in the killing of B.C. Sikh activist, Nijjar

What delayed Alberta carbon capture project: analysts

What delayed Alberta carbon capture project: analysts
A corporate decision to mothball Canada's largest carbon capture and storage plan is likely the result of financial uncertainty and technological risks, analysts suggest.

What delayed Alberta carbon capture project: analysts

Alberta government to amend bill granting it sweeping powers over municipalities

Alberta government to amend bill granting it sweeping powers over municipalities
The Alberta government, in the face of mounting criticism, says it will make changes to a bill that gives Premier Danielle Smith and her cabinet unfettered power to overturn local bylaws and fire mayors and councillors.

Alberta government to amend bill granting it sweeping powers over municipalities

Alberta announces expansion of newborn screening program, research for women's health

Alberta announces expansion of newborn screening program, research for women's health
Alberta is expanding the screening process for all newborns in the province and supporting more research related to women's health.  

Alberta announces expansion of newborn screening program, research for women's health