Canadian Consumer Price Index Rises 2.8% Year-Over-Year in June
Consumer Price Index, June 2026
On Monday, Statistics Canada (StatCan) reported that the Canadian Consumer Price Index (CPI) rose 2.8% year-over-year in June, down from a 3.2% increase in May.
On a month-over-month basis, the CPI fell 0.4%, the largest monthly decline since December 2024. Seasonally adjusted, the index fell 0.1%, marking the first decline since April 2025, when it fell 0.2%.
Gasoline prices increased at a slower year-over-year rate in June than in May, contributing to the deceleration in the headline CPI. Excluding gasoline, the CPI rose 2.2% year-over-year, unchanged from May.
Regional Highlights
Year-over-year price growth slowed in every province except Prince Edward Island, largely because of slower gasoline price increases.
Ontario recorded the smallest annual increase at 2.0%, reflecting slower price growth for food purchased from restaurants. Nova Scotia posted the largest gain at 4.7%, driven mainly by higher traveler accommodation prices.
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