OTTAWA – Statistics Canada is set to report inflation figures for June today.
A Reuters poll of economists expect the annual pace of inflation rose to 1.9 per cent last month, up from 1.7 per cent in May.
BMO expects inflation rose beyond that to two per cent in June as food and transportation costs pushed prices higher for consumers.
The June inflation report will be the Bank of Canada’s last look at price data before its next interest rate decision on July 30.
The central bank has held its policy rate steady for the past two decisions as it waits for more clarity on how U.S. tariffs are affecting inflation and the wider economy.
Last week’s surprisingly strong June jobs report quashed odds of a July interest rate cut in the eyes of financial markets.
This report by The Canadian Press was first published July 15, 2025.
