Inflation cooled to 2.8% in June as gas prices fell, says StatCan

Consumers paid less for gas at the pump in June compared to May, and that helped cool annual inflation to 2.8 per cent, according to Statistics Canada.

The agency released the latest Consumer Price Index (CPI) Monday, which is the main gauge on inflation for Canadian consumers. The headline inflation figure was down from May’s year-over-year reading of 3.2 per cent.

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The Bank of Canada has kept its key interest rate steady at 2.25 per cent for six straight meetings as it seeks to keep the CPI within a target range of one and three per cent for year over year inflation.

– more to come.