Annual inflation rate rises from 8.1% in June to 7 If the Trudeau administration is comfortable with the fall to 7.6% on the month, it shouldn't be.
Still far from his 2% inflation target set jointly by the federal government and the central bank12 Canada on the moon.
According to Statistics Canada, the main cause of the decline was lower gasoline prices, which were still 35.6% higher in July than a year ago.
The only "good" news is that June's annual growth rate was even higher at 54.6%.
Consumers said that he paid 9.2% less for gasoline in July than in June, but food prices were higher in July than in June. rose quickly.
Baked goods continued to rise at a faster pace, up 13.6% compared to last July, eggs up 15.8%, fruits up 11.7%, and coffee and tea up 13.8%. .
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Rents rose 4.9% YoY in July, faster than June's 4.3% YoY increase. People are buying homes instead of renting accommodation.
The main concern is that natural gas prices across Canada rose 42.6% year-on-year in July, and in June compared to last year. It rose sharply from a 26% rise.
A global natural gas shortage, due to the ripple effect of Russian export cuts to Europe following Russian President Vladimir Putin's invasion of Ukraine, is just months away and households This means that heating costs for
For those lucky enough to get a flight from a busy Canadian airport, air fares in July were 25.5% higher than in June, and travel and accommodation costs in July were It increased by 47.7% compared to one year ago.
Unemployment remains low, but the main economic damage caused by inflation is the loss of Canadians' purchasing power and lower living standards. Hourly rate.
What that means is that we are not yet out of the economic forest.
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