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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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Canada's Inflation Rate Cools to 1.9% in November


Canada's annual inflation rate slowed to 1.9% in November, down from 2% in October. This slight decrease was driven by a broad-based slowdown in prices, particularly in travel tours and mortgage interest costs. The consumer price index remained unchanged on a monthly basis.

Economists had anticipated the inflation rate to hold steady at 2%, but the data showed a more significant deceleration. The Bank of Canada, which has been working to control inflation, will consider this data in its upcoming rate decision on January 29.

The cooling inflation rate is a positive sign for the Canadian economy, which has been facing challenges this year. The central bank has already cut interest rates by 175 basis points since June to stimulate growth.



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