Inflation dynamics in Canada recorded a slowdown, reaching for the first time since March 2021 within the control range established by the central bank. Nonetheless, the underlying pressures do not appear to have changed significantly.
According to reports from Statistics Canada, the consumer price index increased by 2.8% in June compared to the same period a year earlier. This figure is lower than the 3% median estimate predicted by a Bloomberg survey of economists. On a monthly basis, the index recorded a 0.1% increase, also lower than expectations of 0.3%.
Two other key inflation measures watched by the Bank of Canada showed a year-on-year decline, averaging 3.8%, from 3.9% a month earlier, albeit higher than the 3.65% expected by economists.