Inflation in canada has shown signs of cooling, with the consumer price index (cpi) rising by 2.7% in june, below the boc’s earlier forecast of 2.9% for the first half of 2024. An inflation rate of 1.15% per year means $1 in 2023 is worth $1.01 in 2024.
These consumer price indexes were released by statistics canada on july 16, 2024 for the month of june 2024. The inflation rate year over year is 2.7% (compared to 2.9% for the previous month ).