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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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Azerbaijan's President Claims Russian Forces Unintentionally Shot Down Jetliner


In a recent statement, Azerbaijan's President Ilham Aliyev announced that the Azerbaijani airliner which crashed last week was unintentionally shot down by Russian forces. The tragic incident occurred over Russian airspace, resulting in the death of 38 out of 67 passengers on board.

President Aliyev told state television that the aircraft was hit by ground fire and rendered uncontrollable due to electronic warfare. He emphasized that the crash was not deliberate but criticized Russia for attempting to cover up the incident for several days.

The Kremlin confirmed that Russian air defense systems were active near Grozny, Chechnya, to counter a Ukrainian drone strike at the time of the crash. Russian President Vladimir Putin has since apologized to Aliyev, calling it a "tragic incident" but stopped short of admitting responsibility.

Aliyev has demanded an official apology, admission of guilt, and compensation for the victims and their families. The international community continues to monitor the situation closely as investigations proceed.



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