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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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Zelensky Vows to Hold Donbas, Rejects Russian Withdrawal Proposal

 


 President Volodymyr Zelensky has firmly rejected any Russian proposal for Ukrainian forces to withdraw from the eastern Donbas region, warning that such a move would dismantle key defensive lines and give Moscow a strategic advantage for future offensives.

Speaking ahead of a high-profile summit between U.S. President Donald Trump and Russian President Vladimir Putin in Alaska, Zelensky stressed that territorial issues could only be addressed after a ceasefire is in place — and that security guarantees for Ukraine must be central to any agreement.

Russia’s reported offer involved halting advances in other Ukrainian regions in exchange for Kyiv pulling back from Donbas, which includes the Donetsk and Luhansk regions. Ukraine still controls roughly 30% of Donetsk, including fortified positions and high ground. Zelensky warned that abandoning these areas would open a “springboard” for Russian forces to push toward Zaporizhzhia, Dnipro, and Kharkiv.

The Ukrainian leader reiterated that his country must be directly involved in any negotiations concerning its territory, rejecting suggestions of land swaps as part of a peace deal. “The territorial issue cannot be separated from security guarantees,” he said.

The standoff comes as international attention turns to the upcoming Trump-Putin meeting, which the White House has described as a “listening exercise” rather than a formal negotiation.

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