Friday, July 24, 2026
Here's what's moving your money today: a free-admission summer program gets a presidential — er, prime ministerial — plug, grocery bills keep outrunning the official inflation rate, and back-to-school shopping lists are starting to sting. Here are five things worth five minutes of your morning.
1. The Canada Strong Pass is still handing out free national park admission
The Prime Minister spent part of today at a national park promoting the Canada Strong Pass, the federal program giving everyone — Canadian or not — free admission to all Parks Canada sites, plus a 25% discount on camping and roofed accommodations, through September 7, 2026. There's no app or registration; you just show up. Museums and galleries also offer free or discounted entry for visitors 24 and under, and VIA Rail has discounted fares tied to the same window.
What it means for you: If a summer trip is still on the wish list, this is a real, no-strings discount — but camping spots and VIA seats are reservation-based and filling up. The pass doesn't cover provincial parks (including Ontario's), parking, or hot springs, so check the fine print before you plan around it.
2. Grocery prices are still outrunning headline inflation — 17 months running
June's Consumer Price Index came in at 2.8% year over year, but grocery prices rose 3.9% — the 17th straight month that food-at-the-store inflation has beaten the overall number. It's an improvement from May's 4.3%, but Dalhousie's Food Price Report still projects food costs could climb another 4–6% before the year is out, driven mostly by meat and restaurant prices.
What it means for you: The grocery bill is likely to keep growing faster than your paycheque's cost-of-living adjustments for a while yet. If you haven't already, this is a good week to compare loyalty-app prices across the big grocers — the spread between chains has been widening along with the Grocery Code of Conduct rollout.
3. Back-to-school spending is creeping toward $900 a family
A new RetailMeNot.ca survey pegs average back-to-school spending at $883 per family this year, with over half of parents saying the shopping season strains the household budget — and most of them still end up spending more than they budgeted. Statistics Canada data shows school supplies alone are running about 2.7% pricier than a year ago.
What it means for you: Supply lists usually aren't finalized until August, so resist the urge to stock up in July on anything beyond basics. Inventory what's left over from last year first — surveys suggest a third of parents already do this and it's the single easiest way to cut the bill.
4. Canada's biggest trade deal is quietly being renegotiated
The mandatory six-year review of CUSMA (Canada's version of USMCA) formally began July 1 and is expected to drag on for months. The options on the table range from a clean 16-year extension to a rolling cycle of annual reviews — or, in the most disruptive scenario, a wind-down of the agreement altogether. Autos, steel, aluminum, and lumber are the sectors most exposed.
What it means for you: This isn't a today-tomorrow story, but it's the backdrop for the tariff headlines you've been seeing all month. Prolonged uncertainty tends to show up later as higher prices on vehicles and anything built from cross-border supply chains — worth factoring in if a car purchase is on your 2027 radar.
5. The fixed-variable mortgage gap is near its widest in years
With the Bank of Canada holding at 2.25% since mid-July, the best five-year variable rates are sitting near 3.25–3.45%, while five-year fixed rates are stuck closer to 3.94–3.99% — a gap approaching a full percentage point. Fixed rates are being pushed up by bond yields reacting to oil-driven inflation worries, not by the Bank of Canada itself.
What it means for you: Anyone renewing soon is facing a real trade-off between payment certainty and a meaningfully cheaper rate today. The next Bank of Canada decision lands September 2 — if you're renewing before then, most lenders will let you lock a rate hold now and still take advantage of a cut if one comes.
This article is for general informational purposes only and does not constitute financial advice. Rates and figures reflect publicly available data as of July 24, 2026, and are subject to change.
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