Canadian Inflation Cools More Sharply than Anticipated

Dow Jones07-20 20:58

0858 ET - Canadian inflation cooled more sharply than expected last month as drivers saw some respite at the pumps. The consumer price index fell 0.4% on-month, the largest decline since December 2024. In annual terms, inflation decelerated to 2.8% from May's 3.2% and against economist expectations for 3%. Gasoline fell sharply during June and increased at a slower rate on a year-over-year basis than in May. Excluding gasoline, inflation was steady at 2.2%, holding near the Bank of Canada's 2% target. The central bank's preferred median and trim measures averaged 1.85%, a level last that low in September 2020. Still, with global oil prices back up in July, economists remain on watch for signs inflation is taking hold more broadly. (robb.stewart@wsj.com; @RobbMStewart)

(END) Dow Jones Newswires

July 20, 2026 08:58 ET (12:58 GMT)

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