Canada's CPI Slowed To 2.5 Per Cent Year-on-year in July

On the 20th, Statistics Canada released July inflation data, and the consumer price index (CPI) rose 2.5% year-on-year in July, achieving the lowest increase since March 2021, that is, in 40 months. On a month-on-month basis, the CPI rose 0.4 per cent in July, compared with a slight 0.1 per cent fall in June. The main upward pressure on the monthly CPI figure was a 2.4% month-on-month rise in gasoline prices.