Inflation cools to 2.7% in June, but grocery prices heating up again

4 months ago

Posted July 16, 2024 8:33 am

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'June ostentation information could unfastened doorway to 2nd Bank of Canada complaint cut'

1:43 June ostentation information could unfastened doorway to 2nd Bank of Canada complaint cut

Canada’s cardinal slope will get 1 last publication of ostentation figures Tuesday earlier it makes its adjacent liking complaint determination connected July 24. As Anne Gaviola explains, economists foretell a return to a cooling costs of living, fuelling hopes for different cut.

Statistics Canada says nan yearly complaint of ostentation slowed successful June, but renewed pressures are showing up astatine nan market store.

The agency’s user value scale reported an yearly inflation complaint of 2.7 per cent successful June. That follows an uptick to 2.9 per cent successful May.

Slower rises successful gasoline prices than a twelvemonth agone were cited arsenic nan main logic for nan decline.

But nan gait of value hikes astatine nan market shop picked up for nan 2nd period successful a row, rising 2.1 per cent year-over-year.

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The Bank of Canada will beryllium intimately scrutinizing June ostentation figures arsenic nan cardinal slope prepares for its adjacent interest rate determination connected July 24.

More to come…

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