Inflation cooled to 2.8% in June as gas prices fell, says StatCan
Consumers paid less for gas at the pump in June compared to May, and that helped cool annual inflation to 2.8 per cent, according to Statistics Canada. The agency released the latest Consumer Price Index (CPI) Monday, which is the main gauge on inflation for Canadian consumers. The headline inflation figure was down from May’s year-over-year reading of 3.2 per cent.Gas prices surged over the spring mostly because of conflict in the Middle East, but a tentative peace agreement between the United States and Iran took pressure off global oil prices over the course of June.
- ▪Consumers paid less for gas at the pump in June compared to May, and that helped cool annual inflation to 2.8 per cent, according to Statistics Canada.
- ▪The agency released the latest Consumer Price Index (CPI) Monday, which is the main gauge on inflation for Canadian consumers.
- ▪The headline inflation figure was down from May’s year-over-year reading of 3.2 per cent.Gas prices surged over the spring mostly because of conflict in the Middle East, but a tentative peace agreement between the United States and Iran too
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Consumers paid less for gas at the pump in June compared to May, and that helped cool annual inflation to 2.8 per cent, according to Statistics Canada. The agency released the latest Consumer Price Index (CPI) Monday, which is the main gauge on inflation for Canadian consumers. The headline inflation figure was down from May’s year-over-year reading of 3.2 per cent.Gas prices surged over the spring mostly because of conflict in the Middle East, but a tentative peace agreement between the United States and Iran took pressure off global oil prices over the course of June. Renewed hostilities between the nations have pushed prices at the pump higher again in recent weeks.Taking gas prices out of the equation, Statistics Canada said inflation was unchanged at 2.2 per cent from May to June.
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