Inflation slows to 2.8% in Canada in June, within Bank of Canada’s target range

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Canada’s annual inflation rate slowed to 2.8 per cent in June. (R.J. Johnston/Toronto Star via Getty Images) Canada’s annual inflation rate slowed to 2.8 per cent in June, according to Statistics Canada, but Canadians continue to face price pressures as rising food prices and mortgage interest costs push ever higher. The rise in the Consumer Price Index (CPI) was down from a 3.4 per cent increase in May, and brings it in line with the Bank of Canada's previous forecast that inflation would ease to around 3 per cent by mid-year. It marks the first time in 27 months that...