Canadian inflation declines to 7.6% in July

Tuesday, 16. August 2022 14:37

Canadian Consumer Price Index (CPI) rose 7.6% on a year-to-year basis in July, down from 8.1% in June, Statistics Canada reported on Tuesday. Excluding gasoline, prices rose 6.6% year-to-year in July, after a 6.5% increase recorded in June.

Gasoline prices rose 35.6% year-to-year in July following a 54.6% growth in June. Food prices increased 9.9% on a year-to-year basis in July compared to a growth of 9.4% in June. The cost of flights increased by 25.5%, while accommodation prices rose 47.7% in July. Natural gas prices in Canada rose 42.6% on a year-to-year basis, compared to an increase of 26% in June.

On a year-to-year basis, prices rose less in July compared to June in eight provinces.

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Baha Breaking News (BBN) / JN