The annual pace of inflation accelerated to 1.9 percent in June as consumers were paying more at car dealerships, Statistics Canada said Tuesday.
The June price hike is up from 1.7 percent in May and was largely in line with economists’ expectations.
StatCan said gasoline prices were nearly unchanged in June as higher crude oil prices and geopolitical conflicts ratcheted up pressure at the pumps. Motorists saw a steeper monthly decline in prices this time last year, which the agency said led to a rise in headline inflation.
Excluding energy, annual inflation was 2.7 percent in June. The removal of the consumer carbon price at the start of April continues to dampen the annual price comparisons….