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Canadian inflation eased in June on cheaper gasoline

Headline CPI rose 2.8% year over year in June, down from 3.2% in May, as gasoline prices fell 10.2% in the month.

Reported · Written up by our desk · Major Pairs

Canada’s headline inflation slowed in June, with CPI easing to 2.8% year over year, down from 3.2% in May, according to Action Forex.

The decline was linked to lower gasoline prices, which fell 10.2% in June, though they remained up 20.5% versus a year earlier.

Action Forex also noted some cooling in food costs, with grocery prices for food purchased from stores rising 3.9% year over year.

The report highlights how energy prices were a key driver of the monthly inflation move.

Latest closeGasoline (RBOB) $3.379 ▼5.8%

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