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

New robot assisted surgery coming for Burnaby General Hospital and Fraser Health

New robot assisted surgery coming for Burnaby General Hospital and Fraser Health
Burnaby Hospital and Fraser Health say a new robot assisted surgery system is set to be put into action, the first in Western Canada.  The Burnaby Hospital Foundation and the health authority say teams are now training on the Mako Robotic-Arm Assisted, a 2.3 three million dollar addition to the hospital's Jim Pattison Surgery Centre. 

New robot assisted surgery coming for Burnaby General Hospital and Fraser Health

Arrest made in last year's over 20M gold heist at Toronto's Pearson airport

Arrest made in last year's over 20M gold heist at Toronto's Pearson airport
Police have charged nine people in the Hollywood movie-worthy heist of nearly 24-million dollars in cash and gold one year ago today at Toronto's Pearson airport. They include two men who worked for Air Canada and an alleged gun trafficker.

Arrest made in last year's over 20M gold heist at Toronto's Pearson airport

B.C. construction sector seeks support as workers shortage, late payments persist

B.C. construction sector seeks support as workers shortage, late payments persist
British Columbia's construction industry says its workforce numbers have improved in recent years, but labour shortages persist and are putting "extreme pressures" on employers. The BC Construction Association says the shortage of qualified workers has pushed the average annual wage in the sector to just short of $75,000, up 21 per cent in the last five years.

B.C. construction sector seeks support as workers shortage, late payments persist

Burnaby man charged with 2nd degree murder

Burnaby man charged with 2nd degree murder
A Burnaby man has been charged with second-degree murder for his involvement in a stabbing in Vancouver earlier this month. Vancouver police say the 29-year-old suspect was arrested on April 4th, a day after a 49-year-old woman was found dead just north of Fraserview Golf Course.

Burnaby man charged with 2nd degree murder

B.C. man who pushed senior during dispute outside Costco loses manslaughter appeal

B.C. man who pushed senior during dispute outside Costco loses manslaughter appeal
The B.C. Court of Appeal has upheld the manslaughter conviction of a man who claimed he lashed out in self defence, in part because of his claustrophobia, resulting in an elderly man's death at a Vancouver Costco in 2017.  A ruling released Monday says Thomas Toth was convicted of manslaughter in 2020, three years after he got into a physical altercation with 86-year-old Orlando Ocampo "that had tragic consequences." 

B.C. man who pushed senior during dispute outside Costco loses manslaughter appeal

B.C. to add 240 complex-care housing units in communities throughout the province

B.C. to add 240 complex-care housing units in communities throughout the province
British Columbia is planning to add 240 new units to its complex-care housing program, providing homes for people with mental-health and addictions challenges that overlap with other serious conditions. The Ministry of Mental Health and Addictions says in a statement 200 of the units will be located in Abbotsford, Burnaby, Kamloops, Kelowna, Nanaimo, New Westminster, Prince George, Sechelt, Surrey, Vancouver and Victoria.

B.C. to add 240 complex-care housing units in communities throughout the province