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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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Hurricane Melissa Slams Toward Jamaica as Category 5 Monster Storm

 

              Waves break on the coast ahead of Hurricane Melissa, in Port Royal, Jamaica, October 25, 2025. 


Hurricane Melissa has intensified into a Category 5 storm, unleashing maximum sustained winds of 160 mph as it barrels toward Jamaica. Forecasters warn the island faces catastrophic flooding, life-threatening landslides, and destructive winds as the storm makes its approach.

The U.S. National Hurricane Center reported Melissa’s center was located about 130 miles southwest of Kingston early Monday, moving slowly northward. Rainfall totals of 15 to 30 inches are expected across much of Jamaica, with some eastern regions potentially seeing up to 40 inches, raising fears of widespread flash flooding.

Authorities have ordered evacuations in flood-prone areas, shuttered airports, and opened hundreds of emergency shelters. Prime Minister Andrew Holness urged residents to remain indoors and heed official warnings, calling Melissa “the most dangerous storm to threaten Jamaica in decades.”

After striking Jamaica, Melissa is forecast to track toward southeastern Cuba and the Bahamas, maintaining major hurricane strength through midweek.

Meteorologists caution that Melissa’s slow movement could worsen the disaster, prolonging the island’s exposure to torrential rains and hurricane-force winds.


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