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5 Things to Know Today: Inflation Data, Gas Prices & a Mortgage Rate Gap (July 20, 2026)

  July 20, 2026 Here's what's moving Canadian wallets today: a big inflation number lands this morning, gas prices are climbing again, mortgage shoppers are staring at the widest fixed-variable gap in years, and there's a fresh scam warning from the CRA. 1. Statistics Canada releases June inflation data today Statistics Canada is publishing the June Consumer Price Index this morning. Economists polled by Reuters expect the headline rate to ease to roughly 2.9%, down from May's 3.2% — which had been the fastest pace since late 2023. The expected improvement comes mainly from a temporary lull in gasoline prices last month, though the Bank of Canada has already warned that the outlook remains clouded by the Middle East conflict and unresolved trade issues with the United States. What it means for you: A softer number would be welcome, but don't expect it to last — gas prices have already jumped again in July. Grocery and household budgets should stay tight through the...
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Conservatives Leverage Singh's Critique in Non-Confidence Motion


In a strategic move, the Conservative Party plans to introduce a non-confidence motion next week, utilizing NDP Leader Jagmeet Singh's own words to challenge the minority Liberal government. The motion quotes Singh's criticism of the Liberals, accusing them of succumbing to corporate greed by ordering binding arbitration in labor disputes involving the nation's largest rail yards.

The proposed motion aims to persuade New Democrats to join forces with the Conservatives, declaring a loss of confidence in Prime Minister Justin Trudeau and his government. If successful, this motion could trigger an immediate election, a scenario the Conservatives are eager to see.

Government House Leader Karina Gould has announced plans to schedule opposition days for both the Conservatives and the NDP next week, providing a platform for this critical motion. The outcome of this political maneuver remains uncertain, as the NDP has previously taken a case-by-case approach to non-confidence votes.

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