Canada inflation falls to 2.8% in June, below forecasts

Lower fuel prices contributed to the decline, as did lower so-called core inflation.

Gasoline prices in Canada rose by 20.5 percent in June compared with June last year. However, in May, the annual increase in gasoline prices was significantly higher, at 33.2 percent.

Compared with May, consumer prices in Canada fell by 0.4 percent in June, the largest monthly decline since December 2024.