The June CPI data showed prices for more than half of the basket's components were rising more than five per cent on an annual basis. REUTERS/Blair Gable
"Despite the welcome drop in headline inflation, the June price data show that the share of components rising faster than 5% per year remains above 50%." Statistics Canada reported on Tuesday that consumer price growth slowed to 2.8 per cent annualized in June, the lowest level since March 2021. Excluding the gasoline component though, headline inflation would have clocked in at four per cent, the agency says.
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