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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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Diplomatic Rift Deepens as Israel Rejects Carney’s Gaza Aid Critique

Israeli Ambassador Rebuts Carney’s Accusation Over Gaza Aid Crisis

Israel’s ambassador to Canada, Iddo Moed, has publicly rejected Prime Minister Mark Carney’s sharp criticism of Israel’s role in the humanitarian crisis unfolding in Gaza. In a statement issued Friday, Moed defended Israel’s actions and urged Canada to focus its pressure on Hamas instead.

Carney had accused Israel of violating international law by obstructing the delivery of humanitarian aid to Gaza, calling for international organizations to take over the distribution process. “Israel’s control of aid distribution must be replaced by comprehensive provision of humanitarian assistance,” Carney stated, citing reports of mass starvation and blocked Canadian-funded aid.

Moed responded by asserting that Israel remains committed to international law and is actively facilitating aid flows into Gaza. He emphasized that Hamas’s continued hostage-taking and obstruction of peace efforts are the root causes of the crisis. “Israel is an active partner in humanitarian efforts,” Moed said, while calling on Canada to support a comprehensive framework to end the war.

The diplomatic exchange comes amid growing international pressure, with over two dozen countries—including Canada, the UK, and Japan—issuing a joint statement demanding an immediate end to the conflict and condemning the current aid distribution system as “dangerous”.


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