Statistics Canada building and signs are pictured in Ottawa on July 3, 2019. THE CANADIAN PRESS/Sean Kilpatrick
Inflation falls to 2.7% in June, driven by slower growth in gas prices: StatCan
Jul 16, 2024 | 6:50 AM
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hhCanada’s annual inflation rate fell to 2.7 per cent in June, with Statistics Canada largely attributing the deceleration to slower year-over-year growth in gasoline prices.
The agency reported Tuesday that gasoline prices rose 0.4 per cent in June following a 5.6 per cent jump in May. Excluding gasoline, the consumer price index rose 2.8 per cent in June.
StatCan says lower prices for durable goods also contributed to the overall slowdown, falling 1.8 per cent year-over-year in June following a 0.8 per cent decline in May.
Meanwhile, grocery prices rose 2.1 per cent year-over-year in June, up from May when they increased 1.5 per cent from the same month a year earlier.
