👉Canada's inflation rate in May dropped to 3.4%, reaching its lowest point since June 2021. The decrease is anticipated to be positive news for the Bank of Canada, as it prepares for the upcoming interest rate decision on July 12, following a recent quarter-percentage point increase to 4.75%. Statistics Canada's report attributed the slowdown primarily to reduced gasoline prices compared to the previous year. However, despite the overall decline, food inflation has yet to see a significant improvement, with grocery prices remaining high, increasing by nine per cent annually and showing minimal change from April. April had experienced a slight increase in inflation to 4.4%, slightly reversing the progress made since the previous summer.✅ . . #CanadaInflation #BankOfCanada #InterestRateDecision #GasolinePrices #FoodInflation #GroceryPrices #EconomicNews #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉In a reversal of its downward trajectory, Canada's inflation rate experienced an unexpected upswing, reaching an annual rate of 4.4%. Prior to the release of new data by Statistics Canada, economists anticipated a slight easing from the previous month's 4.3% to around 4.1%. However, the inflation rate surpassed expectations by rising once again, driven by higher costs in categories such as gasoline, rent, and mortgages. Notably, this marks the first acceleration in the cost of living since June 2022, when Canada encountered its highest inflation rate in over four decades at 8.1%. ✅ . . #CanadaInflation #UnexpectedUpswing #EconomicData #CostOfLiving #HigherCosts #GasolinePrices #RentIncreases #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉Canada's inflation rate recorded its largest slowdown since April 2020 in February, with an annual increase of 5.2% compared to 5.9% in January. This is the lowest rate since January 2022, when it was at 5.1%. The decrease was attributed to the steep monthly price hike in February 2022, during the Russian invasion of Ukraine, according to Statistics Canada. However, grocery prices remained high and increased more than the overall inflation rate.✅ . . #CanadianEconomy #Inflation #ConsumerPrices #StatisticsCanada #PriceIndex #GasolinePrices #TelecomServices #EconomicIndicators #mnm #malayalisnearmeapp #canadaupdate #canadanews