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Statistics Canada says Canada’s inflation rate tumbled to 2.8 per cent in June, putting it within the Bank of Canada’s target range. (lemmy.ca)

submitted 1 year ago by [email protected] to c/[email protected]

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Excluding gasoline, headline inflation would have been 4.0% in June, following a 4.4% increase in May.

Canadians continued to see elevated grocery prices (+9.1%) and mortgage interest costs (+30.1%) in June, with those indexes contributing the most to the headline CPI increase.

The all-items excluding food index rose 1.7% and the all-items excluding mortgage interest cost index rose 2.0%.

https://www150.statcan.gc.ca/n1/daily-quotidien/230718/dq230718a-eng.htm?HPA=1

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[–] cyberpunk007 2 points 1 year ago

Maybe I'm wrong but usually isn't a recession caused when people stop buying things they don't need because they can no longer afford them? Restaurants, boats, cars, vacations, etc? Well what happens when many Canadians can't afford transportation to get to/from work, repair their vehicle, rent, mortgage, and food?

Necessities are hard to afford now