Thursday, July 9, 2026 Every July, a wave of federal benefit payments resets for the new benefit year — and 2026 brings one of the biggest shifts in years. Between a permanent 25% boost to the old GST/HST credit, a fresh Canada Child Benefit increase, and the largest quarterly OAS bump of the year, millions of Canadian households will see different numbers land in their accounts this month. Here's what actually changed, and what to check in your own CRA account. The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) . It's not a new program from scratch — it runs on the same CRA infrastructure and eligibility rules — but the payment amounts are 25% higher, and that increase is locked in for five years. The first CGEB payment went out on July 3, 2026. Under the new structure: A single individual with no children can receive up to roughly $679 per year (about $170 per quart...
Canada’s Inflation Rate Falls to 2.7% in April Amid Price Growth Slowdown
Canada’s annual inflation rate declined to 2.7 per cent in April, down from 2.9 per cent in March. This broad-based deceleration in price growth provides the Bank of Canada (BoC) with a potential “all clear” signal for a June rate cut.
Key Points:
Food Prices, Services, and Durable Goods: The slowdown was led by food prices, services, and durable goods. These sectors experienced a moderation in price increases, contributing to the overall cooling of inflation.
BoC’s Considerations: With inflation easing, the BoC may have more room to maneuver its monetary policy. A rate cut could stimulate economic activity and support recovery.
Market Expectations: Analysts are closely watching the BoC’s next move. If the trend continues, a rate cut in June could be on the horizon.
Implications:
The decline in inflation suggests that the Canadian economy is stabilizing after a period of rapid price increases. While the BoC will carefully assess economic data, the recent cooling of inflation provides an opportunity for policy adjustments.
As always, market participants and consumers should stay informed about central bank decisions and their potential impact on borrowing costs, investments, and overall economic conditions.
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