Statistics Canada says Canada’s inflation rate tumbled to 2.8 per cent in June, putting it within the Bank of Canada’s target range.
Excluding gasoline, headline inflation would have been 4.0% in June, following a 4.4% increase in May.
Canadians continued to see elevated grocery prices (+9.1%) and mortgage interest costs (+30.1%) in June, with those indexes contributing the most to the headline CPI increase.
The all-items excluding food index rose 1.7% and the all-items excluding mortgage interest cost index rose 2.0%.