Statistics Canada indicates that petrol prices decreased by 16.1 % from one year to the next in July, while the effects of withdrawing federal carbon pricing for consumers have continued to be felt.
Fuel prices also fell 0.7 % on a monthly basis, following an increase in the production of oil exporting countries and a ceasefire in the conflict between Israel and Iran.
Signs of pressure on food prices were observed last month, the costs that increased by 3.4 % in annual sliding in grocery stores, compared to 2.8 % in June.
Confectionery and coffee experienced significant price increases in July compared to the previous year. According to Statistics Canada, this is explained by difficult growth conditions in cocoa and coffee producing countries.
Housing prices have experienced their first acceleration of growth since February 2024, due to an increase in rents.
In Quebec, inflation was 2.3% in July, after being 2.2% in June. Quebec is one of the two provinces where inflation has been higher than the national average, the other being Manitoba.
