While deceleration was fairly broad-based, another base-year effect in gasoline prices led the slowdown in the CPI, the national statistical agency said.
Excluding gasoline, headline inflation would have been 4 percent in June, following a 4.4 percent increase in May.
According to the agency, gasoline prices fell 21.6 percent year over year in June, following an 18.3 percent decline in May.
Canadians continued to see elevated grocery prices and mortgage interest costs in June, with those indexes contributing the most to the headline CPI increase. The all-items excluding food index rose 1.7 percent and the all-items excluding mortgage interest cost index rose 2 percent, the agency said.
On a monthly basis, the CPI edged up 0.1 percent in June, following a 0.4 percent gain in May. On a seasonally adjusted monthly basis, the CPI also rose 0.1 percent, Statistics Canada said.
Latest comments