Monday, September 15, 2025

Canada Sees CPI Come In At 2.7% In June

Canada’s Consumer Price Index rose 2.7% year-over-year in June, decelerating from May’s 2.9% increase, according to the latest data. This slowdown was primarily driven by a moderation in gasoline price growth, which rose only 0.4% compared to 5.6% in May.

The core inflation rate, excluding volatile items like gasoline, remained slightly higher at 2.8% in June. This indicates that while overall inflation is easing, underlying price pressures persist in the Canadian economy.

On a monthly basis, the CPI decreased 0.1% in June, following a 0.6% increase in May. This decline was largely attributed to lower prices for travel tours (-11.1%) and gasoline (-3.1%).

Durable goods prices continued to fall, dropping 1.8% year-over-year in June, compared to a 0.8% decline in May. The purchase of passenger vehicles index saw its largest yearly decline since February 2015, falling 0.4%. Used vehicle prices decreased by 4.5%, reflecting improved inventory levels.

Food prices, however, showed an acceleration in growth. Consumers paid 2.1% more for groceries in June compared to 1.5% in May. This marks the second consecutive month of accelerating grocery price growth. Notable increases were seen in dairy products, fresh vegetables, and non-alcoholic beverages.

The Bank of Canada projects inflation to remain around 3% into the second quarter of 2024, before easing below 2.5% in the latter half of the year. The central bank aims to bring inflation back to its 2% target.

These latest figures suggest that while inflationary pressures are gradually easing in Canada, the path to the central bank’s target remains challenging.


Information for this story was found via StatCan and the sources mentioned. 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

Russia Bans Jim Carrey And 99 Other Canadians In Response To New Sanctions, Military Aid

Russia’s Foreign Ministry on Monday announced that 100 Canadians have been added to the list...

Tuesday, November 15, 2022, 04:32:00 PM

Heat-flation? Report Says Canadian Government Tried to Rename Inflation to Blame It On Climate Change

Recent reports circulating online have claimed that the Canadian government considered renaming “inflation” to terms...

Tuesday, October 8, 2024, 07:49:48 AM

Investment in Housing Dwarfs Tech Spending in Canada

Canada leads OECD nations in prioritizing housing investment over intellectual property development, a trend that...

Tuesday, January 14, 2025, 12:14:00 PM

Canada’s Inflation Rate Suddenly Increases to 0.7% in October as Shelter Costs Accelerate

It appears that inflation levels in Canada surprisingly surpassed expectations for the month of October,...

Wednesday, November 18, 2020, 03:31:00 PM

Canadian Business Sentiment Soars to New High as Economy Continues to Reopen

As Canada’s vaccine rollout gains even further momentum and public health restrictions continue to be...

Tuesday, July 6, 2021, 11:48:00 AM