BREAKING: Canada’s inflation rate tumbles to 2.8% in June even as grocery prices remain high
Statistics Canada says Canada’s rate tumbled to 2.8 per cent in June, putting it within the Bank of Canada’s target range.
The federal agency says the deceleration was broad-based, though lower gasoline prices compared with last year led the slowdown. But Canadians aren’t seeing any relief at grocery stores yet, as prices rose 9.1 per cent year-over-year, slightly faster than in May.The federal agency says that excluding mortgage interest costs, The central bank raised interest rates earlier this month, in part because of concerns that This report by The Canadian Press was first published July 18, 2023.
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