Canadian Economy Remains Resilient as Inflation Falls

The Canadian Consumer Price Index (CPI) rose 2.8% year over year in June, following a 3.4% increase in May. While deceleration was fairly broad-based, another base-year effect in gasoline prices led to a slowdown in the CPI. Excluding gasoline, headline inflation would have been 4.0% in June, following a 4.4% increase in May.

Canadians continued to see elevated grocery prices (+9.1%) and mortgage...