Canada's inflation rate eased to 2.8% in June thanks to lower gas prices

https://i.cbc.ca/ais/307989ad-97c5-43db-93ec-db0810e34360,1784052938915/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C296%2C4661%2C2621%29%3BResize%3D%28620%29" title="A person fuels up at a gas station in B.C. on Friday, Mar. 13, 2026.

Gas prices are on the rise again across the country due to shocks to the oil market due to fighting in Iran, though the loss of capacity at refineries in Russia due to Ukrainian attacks is also having an impact." width="620" />

Prices at the pump increased at a slower rate on a year-over-year basis in June compared to May, the data showed.