Canadian inflation rate rises to 1.5% in June

Canada’s annual rate of inflation inched higher in June hitting 1.5 per-cent. Most consumer prices stayed in check.

Consumer prices were up in June three-tenths of one per-cent from May, which is a slower pace than what analysts were expecting.

Month-to-month there were declines in auto prices and the cost of gas however energy prices jumped nearly six-per-cent. Most of the increases were in Ontario, Alberta and British Columbia.

Food inflation come in at its slowest pace since late 2010 but many economists are calling this the calm before the storm as the drought parching.

Core inflation, excluding volatile items such as food and energy, come in at an annual rate of two-per cent, which is inline with the Bank of Canada’s target.

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