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Canada: Inflation declines to lowest level since September 2024 in July
Latest reading: Inflation came in at 1.7% in July, down from June’s 1.9% and slightly below market expectations. July’s figure marked the weakest inflation rate since September 2024 and remained within the Central Bank’s 1.0–3.0% target range. The reading was driven by a sharper fall in gasoline prices.
Annual average inflation fell to 1.9% in July (June: 2.0%). Meanwhile, core inflation edged down to 2.6% in July from the previous month’s 2.7%.
Finally, consumer prices rose 0.30% from the previous month in July, accelerating from June’s 0.06% rise.
