Canada’s inflation rate came in at 3.1 per cent in June as prices for shelter and transportation rose quickly, while increases food, clothing and recreation slowed down from the prior month.
Statistics Canada reported Wednesday that shelter costs have increased by 4.4 per cent in the past year, and transportation costs went up by 5.6 per cent compared to June 2020.
But the inflation rate was dragged lower because the price of many goods has come down from where it was last year, including beef, which has declined by 11 per cent, fresh vegetables (down by 7.5 per cent) and cellular services (down by a significant 21 per cent).
The decrease for the latter “was mainly due to a variety of promotions across the industry offering lower prices for cellular phone plans and bonus data,” the agency said.
Shelter costs were a major factor pushing the rate up, as the cost of buying or renting a home continues to increase.
