OTTAWA – Statistics Canada is set to publish new inflation data for June this morning.
A Reuters poll of economists expects inflation fell to 2.9 per cent last month from a recent high of 3.2 per cent in May.
Motorists were paying less for gasoline last month amid prospects of peace between the United States and Iran.
Those costs have jumped up again in recent weeks but economists say June’s temporary relief should be enough to drag inflation lower.
The Bank of Canada warned last week that the outlook for inflation is still cloudy thanks in large part to uncertainty over the Middle East conflict.
The central bank held its benchmark interest rate steady on July 15 as it looks for signs inflationary pressures from the Iran war could start spreading beyond the gas pumps and grocery store.
This report by The Canadian Press was first published July 20, 2026.
