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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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Hamas Seeks Assurances as Ceasefire Talks Intensify Amid Gaza Bloodshed

As diplomatic efforts to end the nearly two-year-long war in Gaza gain momentum, Hamas has demanded firm guarantees that a proposed U.S.-backed ceasefire will lead to a permanent end to hostilities. The group’s insistence comes as Israeli airstrikes reportedly killed at least 59 people across the Gaza Strip on Thursday, including civilians sheltering in schools and those queuing for humanitarian aid.

The proposed 60-day truce, endorsed by U.S. President Donald Trump, includes the staggered release of 10 living Israeli hostages and the return of 18 bodies in exchange for Palestinian prisoners. While Israel has signaled readiness to move forward, Hamas remains cautious, seeking international assurances that negotiations during the ceasefire will culminate in a full cessation of the war.

Mediators from Egypt and Qatar are working to bridge the remaining gaps, with Israel expecting a formal response from Hamas by Friday. If accepted, indirect talks could resume immediately to finalize the deal.

The conflict, which began on October 7, 2023, has resulted in over 57,000 Palestinian deaths and widespread devastation in Gaza, according to local health authorities. Israel maintains it will not end the war until Hamas is disarmed and removed from power, while Hamas insists it will not surrender but is open to releasing all hostages if the war ends.

The coming days may prove pivotal in determining whether this latest diplomatic push can finally bring relief to a region long engulfed in violence.

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