Statistics Canada is set to release its June inflation reading this morning.
According to CTV News, the consumer price index report is expected to show inflation slowed again last month. Economists are forecasting inflation fell closer to three per cent, the top end of the Bank of Canada’s target range. Canada’s inflation rate was 3.4 per cent in May, down from 8.1 per cent last summer. It’s believed much of the decline in inflation has been due to lower energy prices, while other prices have continued to rise rapidly.
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