Jul 21, 2026
Headline inflation of 2.8% came in below expectations, moderating versus last month…
… on broad-based easing at the category level, with transportation leading the way…
… thanks to a temporary ceasefire in the Middle East, which pushed oil lower and drove decelerating Y/Y growth in prices at the pump.
The one category up meaningfully in the month was travel-related services, with accommodation rising nearly 20% in Toronto and Vancouver…
… thanks to demand linked to the World Cup.
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