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

Baby lives after stroller hit and dragged by vehicle in Squamish

Baby lives after stroller hit and dragged by vehicle in Squamish
A baby in a stroller survived being struck and dragged for two blocks while it was lodged in the front of a vehicle in Squamish, B.C. Mounties say they received multiple calls that a vehicle had hit a pedestrian pushing a baby in the stroller at a crosswalk Monday night.

Baby lives after stroller hit and dragged by vehicle in Squamish

2 officers hurt in hit and run arrest

2 officers hurt in hit and run arrest
Police in North Vancouver says two officers were hurt last week as they tried to arrest a suspect in a hit-and-run.  RCMP say they're now hoping for dash cam and surveillance footage to aid them in their investigation after a crash around 1 a-m on April 17 on the Dollarton Highway. 

2 officers hurt in hit and run arrest

Police watchdog investigate death of a man in custody of Chilliwack RCMP

Police watchdog investigate death of a man in custody of Chilliwack RCMP
B-C’s police watchdog is investigating the death of a man while in the custody of Chilliwack R-C-M-P.  Mounties say they were called yesterday afternoon to a report of a fight inside a vehicle sitting on a city street. 

Police watchdog investigate death of a man in custody of Chilliwack RCMP

Search underway for two kayakers reported missing near Sidney, B.C., say RCMP

Search underway for two kayakers reported missing near Sidney, B.C., say RCMP
The Sidney/North Saanich RCMP is asking for the public's help locating two men who went missing while kayaking from D'Arcy Island to View Beach on Saturday afternoon. The RCMP say the men were in a teal blue fibreglass, two-person, tandem kayak. They are identified as Daniel MacAlpine, 36, and twenty-six-year-old Nicholas West.

Search underway for two kayakers reported missing near Sidney, B.C., say RCMP

Woman dies in pedestrian fatal collision on Highway 11 near Abbotsford, B.C.

Woman dies in pedestrian fatal collision on Highway 11 near Abbotsford, B.C.
The Abbotsford Police Department says it is investigating a fatal collision involving an unidentified female on Highway 11, known locally as the Abbotsford-Mission highway. Police say the collision occurred Saturday night in the 5300 block of Highway 11.

Woman dies in pedestrian fatal collision on Highway 11 near Abbotsford, B.C.

'It was joy': Trapped B.C. orca calf eats seal meat, putting rescue on hold

'It was joy': Trapped B.C. orca calf eats seal meat, putting rescue on hold
A rescue operation for an orca calf trapped in a remote tidal lagoon off Vancouver Island has been put on hold after it started eating seal meat thrown in the water for what is believed to be the first time.

'It was joy': Trapped B.C. orca calf eats seal meat, putting rescue on hold