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

Lawyer says RCMP bullying claims in Surrey policing case could cause 'undue' concern

Lawyer says RCMP bullying claims in Surrey policing case could cause 'undue' concern
A B.C. government lawyer says court documents in a policing dispute with the City of Surrey contain significant allegations of harassment and bullying by the RCMP that should be kept from public view because they could cause "undue public concern." Trevor Bant was speaking at the start of a hearing on Surrey's petition challenging a direction by Public Safety Minister Mike Farnworth that the city transition from the RCMP to the municipal Surrey Police Service.

Lawyer says RCMP bullying claims in Surrey policing case could cause 'undue' concern

White Rock stabbing suspect arrested

White Rock stabbing suspect arrested
A statement from the Integrated Homicide Investigation Team says 27-year-old Dimitri Nelson Hyacinth has been charged over the alleged assault of a 28-year man, Jatinder Singh, along the White Rock pier and promenade on April 21st. Two days later, 26-year-old Kulwinder Singh Sohi was fatally stabbed in the same area, though R-C-M-P did not provide an update on any further charges.

White Rock stabbing suspect arrested

B.C. Conservatives' 'biological sex' sports bill is quickly quashed in legislature

B.C. Conservatives' 'biological sex' sports bill is quickly quashed in legislature
A proposal by British Columbia Conservative Leader John Rustad to use "biological sex" to classify participants in publicly funded sports teams and events, effectively banning transgender athletes, didn't get to first base.

B.C. Conservatives' 'biological sex' sports bill is quickly quashed in legislature

Alberta sexual assault centres to be consulted on spending additional $10 million

Alberta sexual assault centres to be consulted on spending additional $10 million
The Alberta government will consult with the province's sexual assault centres to determine how to spend an additional $10 million over the next three years.

Alberta sexual assault centres to be consulted on spending additional $10 million

Alberta pulls funding help for low-income transit riders in Edmonton and Calgary

Alberta pulls funding help for low-income transit riders in Edmonton and Calgary
The mayors of Alberta's two biggest cities say the province has pulled $12 million in funding meant to help low-income residents access public transit.

Alberta pulls funding help for low-income transit riders in Edmonton and Calgary

Residential Schools Lawsuit

Residential Schools Lawsuit
The lawyer for a residential school survivor leading a proposed class-action lawsuit against the Catholic Church and one of its priests says legal action is a fallback to get everyone to come together and resolve the issue.

Residential Schools Lawsuit