Tuesday, September 16, 2025

Canada CPI Rises 3.3% in July as Base-Year Effects Subside

Latest data from Statistics Canada shows consumer prices rose 0.6% month-over-month to an annualized 3.3% in June, marking an increase from May’s reading of 2.8% and substantially above economists’ forecasts calling for a CPI print of 3%. The stark reversal in declining inflation was mostly attributable to base-year effects in gasoline prices, which ceased affecting the year-over-year movement. Gasoline prices aside, the CPI was up 4.1% from July 2022, up from 4% in June.

Among the components, the mortgage interest cost index was the largest contributor to overall CPI, posting yet another record-breaking gain— this time rising a staggering 30.6% over the past 12 months. Excluding this component, inflation would have stood at 2.4% last month.

Meanwhile, the decline in energy prices slowed to 8.2% from one year ago, compared to June’s decline of 14.6%. The picture was even more bleak in Alberta, where consumers saw electricity prices increase by a whooping 127.8% compared to July 2022 thanks to the phase-out of provincial rebates and price caps.

Statistics Canada also reported that grocery prices remained elevated last month, rising 8.5% year-over-year following June’s increase of 9.1%.

Information for this story was found via Statistics Canada. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

FOMC Minutes Show Fed Will Maintain Higher Rates Until Inflation Falls to 2%

The FOMC minutes from last month’s meeting reiterated what markets were already bracing for: the...

Wednesday, October 12, 2022, 04:31:29 PM

Inflation Has Already Arrived for the Goods that Americans Actually Need

Back in August, the Federal Reserve revealed a new model to meet inflation targets, called...

Friday, October 2, 2020, 11:31:00 AM

Canadian Inflation Cools to 1.6% in September, Lowest Since 2021

Canada’s annual inflation rate decelerated to 1.6% in September, down from 2.0% in August, marking...

Tuesday, October 15, 2024, 08:43:42 AM

CMHC: Canada’s Housing Market Slated to Cool From Historic Highs

Canada’s housing market is expected to recede from the historic highs witnessed throughout 2021, as...

Thursday, April 21, 2022, 02:54:00 PM

5-Year Inflation Outlook Jumps to Highest Since 2006

The bond market is beginning to take into account the seriousness of impending consumer price...

Saturday, May 15, 2021, 12:39:00 PM