CANADA VIBES NEWSROOM · ÉDITION DU MATIN | MORNING EDITION — July 20, 2026, 9:31 PM ET

Statistics Canada reported that the Consumer Price Index rose 2.8% year over year in June, down from 3.2% in May, largely thanks to slower gas price growth.

The Consumer Price Index rose 2.8% year over year in June, compared with a 3.2% gain in May, according to data published by Statistics Canada in its Daily report.

The slowdown is largely explained by a smaller increase in gasoline prices (20.5% versus 33.2% in May), as a temporary restoration of Middle East energy exports eased wholesale fuel prices.

Grocery prices also eased, rising 3.9% in June compared with 4.3% in May.

The Bank of Canada held its policy rate at 2.25% at its June 10 decision, judging that underlying inflation remains close to target and that economic growth is firming, which suggests the rate will likely hold steady for the rest of 2026.

What to watch

The Bank of Canada’s next decision, how gas and grocery prices move, and the effect of new U.S. tariffs on inflation in the months ahead.

Sources

• Statistics Canada, The Daily, CPI June 2026
• The Globe and Mail
• RBC Economics