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Canada's Inflation Hits 3.2% — What It Means for Your Wallet

  Gas prices surged 33% year-over-year. Grocery bills keep climbing. And the Bank of Canada is walking a tightrope between fighting inflation and protecting a fragile economy. Here's the breakdown — and what comes next. MoneySavings.ca   |  June 23, 2026  |   Canadian Money Brief By the Numbers — May 2026 CPI Headline Inflation (year-over-year) 3.2% Previous Month (April 2026) 2.8% Market Expectations 3.0% Gasoline (year-over-year) +33.2% Grocery Inflation (year-over-year) +4.3% Fresh Vegetables (year-over-year) +9.0% Shelter Costs (year-over-year) +1.7% BoC Core Inflation (trimmed-mean) ~2.0% Bank of Canada Policy Rate 2.25% (held) Canada's inflation rate jumped to 3.2% in May 2026 , Statistics Canada reported Monday — beating analyst forecasts of 3.0% and marking the fastest annual increase since December 2023. Month-over-month, consumer prices rose a full 1.0%, with a seasonally adjusted gain of 0.5%. The headline number is uncomfortable. But the st...

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Canadian Dental Care Plan: Who Qualifies?

 

The Canadian Dental Care Plan (CDCP) aims to provide essential dental coverage to those in need. To be eligible for this program, you must meet the following criteria:

  1. Canadian Residency: You must be a Canadian resident for tax purposes.

  2. Adjusted Family Net Income: Your adjusted family net income should be less than $90,000. This calculation considers various factors, including income reported on tax returns and any universal child care benefit or registered disability savings plan income received.

  3. Filed Tax Return: You must have filed your tax return in the previous year.

  4. No Access to Dental Insurance: To qualify, you must not have access to dental insurance. This includes coverage through employers, family members, pensions, professional or student organizations, or group plans from insurance companies. Even if you choose to opt out of available benefits, you are still considered to have access to dental insurance.

If you already have dental coverage through provincial, territorial, or federal government social programs, you can still qualify for the CDCP. In such cases, your coverage will be coordinated to avoid duplication or gaps in care.

Remember that providing false information on your application may result in removal from the plan, and ineligible family members may need to repay the full cost of care received through the CDCP.


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