Wednesday, August 27, 2025

Consumer Prices In Canada Rise 2.5% In July, Slowest Pace Since March 2021

Canada’s Consumer Price Index (CPI) increased by 2.5% year-over-year in July, marking the slowest inflation rate since March 2021, according to data released by Statistics Canada. This figure represents a decrease from the 2.7% annual gain recorded in June 2024.

The deceleration in headline inflation was broad-based, with notable contributions from lower prices in travel tours, passenger vehicles, and electricity. On a monthly basis, the CPI rose 0.4% in July, following a 0.1% decline in June. Gasoline prices, which increased by 2.4% month-over-month, exerted upward pressure on the monthly CPI figure.

The passenger vehicle sector continued to see price declines, with a 1.4% year-over-year decrease in July, following a 0.4% drop in June. This deceleration was driven by slower price growth for new vehicles (1.0%) as inventory levels improved. Used vehicle prices fell by 5.7% in July.

Regionally, five provinces experienced slower year-over-year price growth in July compared to June. Prince Edward Island and Nova Scotia saw the most significant slowdowns, primarily due to deceleration in gasoline and fuel oil prices.

The shelter price index rose at a slower rate of 5.7% year-over-year in July, down from 6.2% in June. This moderation was influenced by declines in electricity prices, slower growth in mortgage interest costs, and a slight easing in rent increases.


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

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Nord Precious Metals Identifies 29 Veins At Castle East Following 3D Modeling

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

Related News

US Inflation Expectations Soar to Record High as Consumer Prices Continue to Accelerate

US consumers continue to pencil in even higher inflation levels over the next year, as...

Friday, November 12, 2021, 03:33:00 PM

Scotiabank: Inflation is the Biggest Risk to Economies, BoC, Fed Will Aggressively Hike Rates in 2022

With prices running at historic highs in both Canada and the US, the Bank of...

Sunday, January 23, 2022, 11:13:00 AM

US Social Security Benefits Set to Increase by Most in 40 Years

Shortly after the BLS released dismal CPI data showing inflation once again soaring to 40...

Thursday, October 13, 2022, 06:08:14 PM

Costco Warns of Higher Inflation Ahead of Holiday Season, Dismantling ‘Transitory’ Narrative

Think price pressures stemming from the Covid-19 pandemic are just temporary? Think again. Even more...

Monday, September 27, 2021, 02:38:00 PM

The Biggest Mismatch in History: Inflation Soars to Near Double-Digits, Economy Barrels Towards Recession… ECB Raises Rates to 0.75%

The European Central Bank finally decided to jump on the bandwagon of monetary policy panic,...

Thursday, September 8, 2022, 11:14:04 AM