Canada’s annual inflation rate slowed to 2.8 per cent in June.
"It was the stickiness of core inflation measures which was a concern for the Bank of Canada, and with CPI-trim and median showing little further progress towards the target band there remains a very real risk that interest rates could be raised again after the summer," CIBC economist Andrew Grantham
Food prices continue to push stubbornly higher and remain one of the largest contributors to inflation Royce Mendes, managing director and head of macro strategy at Desjardins, said shortly after the release Tuesday that while inflation has fallen into the central bank's target range "there are signs pointing to slower progress from this point on."
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