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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 and Ontario Invest $3B in Small Modular Nuclear Reactors

Ontario Power Generation signage is seen facility at the Darlington Power Complex, in Bowmanville, Ont., on May 31, 2019. 

The federal and Ontario governments have announced a joint investment of $3 billion to advance the construction of four small modular nuclear reactors (SMRs) at the Darlington Nuclear Generating Station site in Bowmanville, Ontario.

Prime Minister Mark Carney confirmed Ottawa will contribute $2 billion through the Canada Growth Fund, while Premier Doug Ford said Ontario will provide $1 billion via the Building Ontario Fund. The project, led by Ontario Power Generation, is expected to cost about $21 billion in total.

The Darlington New Nuclear Project has been designated as being in the national interest, allowing for fast-tracked approvals. Earlier this year, the Canadian Nuclear Safety Commission granted a licence to begin construction on the first SMR.

Supporters of the initiative say SMRs will provide reliable, emissions-free electricity, strengthen Canada’s clean energy leadership, and create thousands of jobs. Critics, however, caution about the high costs and long timelines associated with nuclear development.

If completed as planned, the Darlington SMRs would be the first of their kind in Canada, marking a significant step toward diversifying the country’s energy mix and reducing reliance on fossil fuels.


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