Canada's inflation rate extends its cooling streak in July, keeping BoC on track to cut rates
Canada's annual inflation rate slowed to 2.5 per cent in July, according to Statistics Canada, down from 2.7 per cent in June, supporting expectations for a third consecutive interest rate cut from the Bank of Canada next month. The rise in the Consumer Price Index (CPI) marks the slowest increase since March 2021, when inflation was 2.2 per cent and started picking up steam in the wake of the COVID-19 pandemic. The slowdown was in line with...
Canada's annual inflation rate slowed to 2.5 per cent in July, according to Statistics Canada, down from 2.7 per cent in June, supporting expectations for a third consecutive interest rate cut from the Bank of Canada next month. The rise in the Consumer Price Index (CPI) marks the slowest increase since March 2021, when inflation was 2.2 per cent and started picking up steam in the wake of the COVID-19 pandemic. The slowdown was in line with...
