Why did the CPI rise in April 2023?

This was the first acceleration in headline consumer inflation since June 2022. On a year-over-year basis, higher rent prices and mortgage interest costs contributed the most to the all-items CPI increase in April 2023. On a monthly basis, the CPI was up 0.7% in April, following a 0.5% gain in March.

What happened to Canada's inflation rate in June 2023?

Updated on July 18, 2023: Canada's inflation rate was 2.8% in June 2023, a sizable decline from the 3.4% annual inflation rate seen in May 2023. The headline inflation rate is at its lowest level since March 2021. This decline is primarily due to reduced gas prices (gas prices declined by 22% compared with last June).

When will the Canadian Consumer Price Index (CPI) be released?

The CPI for May will be released on June 27. The "Consumer Price Index Data Visualization Tool" is available on the Statistics Canada website. More information on the concepts and use of the Consumer Price Index ( CPI) is available in The Canadian Consumer Price Index Reference Paper ( 62-553-X ).

What is Canada's inflation rate in 2022?

For June 2022, the annual inflation rate for goods was 11.2%, while the same 12-month period saw an annual inflation rate for services at just 5.2%. Prices used in Canada’s Consumer Price Index are collected across the country. Regional differences in prices can occur, but in aggregate, they provide a national picture of inflation.