Economics
Inflation Ticks Down to 3.1% in ‘Relief’ for Bank of Canada
- Consumer price gains slow in June for first time this year
- Macklem maintains the recent run-up will be transitory
Shoppers wait in line outside of a downtown Montreal retail store on June 5.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
Inflation decelerated in Canada for the first time this year, but price pressures continue to run at some of the hottest levels in nearly a decade.
The consumer price index was up 3.1% in June from a year earlier, Statistics Canada reported Wednesday in Ottawa, broadly in line with the 3.2% increase economists were predicting in a Bloomberg survey.