Canada’s Inflation Rate Tumbles to 2.8% in June Even as Grocery Prices Remain High

A customer shops at a meat counter in a grocery store in Montreal on April 30, 2020. The Canadian Press/Paul Chiasson

Statistics Canada says Canada’s inflation rate tumbled to 2.8 per cent in June, putting it within the Bank of Canada’s target range for the first time in more than two years.

Statistics Canada’s consumer price index report Tuesday says the deceleration was broad-based, though lower gasoline prices compared with last year led the slowdown.