Canada's inflation rate eased to 2.8% in June as gas prices fell
Canada inflation slows to 2.8% as gas prices cool and ease June price pressure See how lower fuel costs shaped the latest CPI and what it means for Canadians
Canada’s annual inflation rate slowed to 2.8% in June, according to Statistics Canada, as gas prices cooled during the month.
The data showed fuel costs fell 10.2% month over month, after higher oil prices had helped push inflation up in May. StatsCan said inflation was unchanged from May to June when gas prices were excluded.
The report noted that a ceasefire and diplomatic talks helped ease oil prices after earlier increases tied to the war between the U.S. and Iran. The monthtomonth drop in gas costs was the largest since December 2024.