Nevertheless,
Inflation 2.2 % quebec june:
The consumer price index increased by 1.9 % from one year to the next year in June in Canada. Nevertheless, which represents an acceleration compared to the annual increase of 1.7 % observed in May.
Statistics Canada stressed that the consumer price index has increased at a higher rate in eight provinces. Similarly, In Quebec, annual inflation was 2.2 % last month, after being 1.7 % in May.
According to the Federal Agency. Consequently, petrol prices remained practically unchanged in June, but a faster drop in prices at the same period last year led to an increase in overall inflation.
By excluding energy, annual inflation was 2.7 % in June. However, The abolition of federal carbon pricing on consumption, at the beginning of April, continues to weigh on annual price comparisons.
The annual increase in food prices slowed down slightly, from 3.4 % in May to 2.9 % in June. Therefore, Statistics Canada noted that this slowdown is largely attributable to the prices of fresh vegetables, which decreased by 3.1 % over a year.
The price of vehicles increasing – Inflation 2.2 % quebec june
The prices of motor vehicles displayed an increase of 4.1 %, compared to 3.2 % in May. The prices of second -hand vehicles experienced their first increase from one year to 18 months in 18 months. while stocks were more limited.
The inflation of housing prices continued to slow down, falling from a tenth of a percentage point to stand at 2.9 % in June.
Furniture prices increased faster in June, under the effect of a general acceleration of the prices of lasting goods.
Data for the month of June constitute inflation 2.2 % quebec june the last overview that the Bank of Canada will collect. before its next decision on interest rates on July 30.
The measures of underlying inflation privileged by the Central Bank have not shown any signs of slowdown in June. is now around 3 %.
Economists who participated in a Reuters survey before the publication of data expected a 1.9 % increase in the consumer price index last month.
What impact on rates?
Inflation data were also published a few days after Statistics Canada announced an unexpected increase of 83. 000 jobs in June, sufficient to slightly lower the unemployment rate to 6.9 %.
Andrew Hencic. principal economist at TD bank, said in a note on Tuesday to its customers that the June inflation report is a new factor in favor of rates.
“The strong basic price growth. inflation 2.2 % quebec june combined with surprisingly robust growth of employment last week, now makes a drop in rates by the Bank of Canada in July,” he said.
According to Lseg Data & Analytics. the probability of a quarter of a quarter of the key rate later this month fell below 10 % after the publication of the report on inflation. Before its publication, it was just over 13 %.
Hencic recalled that new trade threats – US President Donald Trump announced last week that he would. impose customs duties in Canada by 35 % from August 1 – could give the central bank a greater room for maneuver to reduce interest rates in the coming months if the economy begins to weaken more.
Ali Jaffery. CIBC’s main economist, also plans that Canada Bank will maintain its key rate at its current level at the end of the inflation 2.2 % quebec june month.
“Waiting for the fall will give them more time to observe pressure on costs. the reaction of the economy to customs duties and the shock of uncertainty, and above all, to have a more precise idea of the impact of customs duties in Canada,” he explained in a note to its customers.
Further reading: Garden Hill evacuates fear that forest fires destroy their community – Transport for the World Cup: the Toronto plan already amputated? – All addicts in Strava | Radio-Canada – Boeing gets along with a Canadian whose family has perished in a crushing – Researchers discover a very old puffs on an island in Fundy Bay.