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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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UK Sends First Migrant Back to France Under Controversial ‘One In, One Out’ Scheme

British Prime Minister Keir Starmer and French President Emmanuel Macron agreed a pilot scheme.

Britain has deported its first migrant to France under a new “one in, one out” agreement aimed at curbing small boat crossings across the English Channel.

The pilot scheme, agreed in July by Prime Minister Keir Starmer and French President Emmanuel Macron, allows the UK to return undocumented arrivals who have travelled through a “safe country” before reaching Britain. In exchange, the UK will accept an equal number of approved asylum seekers from France, prioritising those with family ties in Britain or deemed vulnerable to exploitation.

The Home Office confirmed that a man who arrived by small boat in August was flown to Paris on Thursday. The move follows a High Court ruling earlier this week that temporarily blocked the removal of another asylum seeker, highlighting the legal challenges the policy faces.

With more than 30,000 people crossing the Channel so far in 2025, the government has pledged to fight what it calls “vexatious, last-minute claims” that delay deportations. The pilot is set to run until June 2026, but critics question whether it will significantly reduce irregular migration.


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