June 2013 CPI Update: Fuel Prices Push Canadian Inflation Higher
In June 2013, Canada’s inflation rate increased to 1.2% year-over-year, up from 0.7% in May, according to Statistics Canada. The sharp rise was primarily fueled by transportation costs, which jumped 2.0% following a decline the previous month — a result of rising gasoline prices during the summer. The Bank of Canada’s core index also rose to 1.3%, edging closer to the 2.0% mark that could trigger interest rate changes. This post includes a breakdown of the Consumer Price Index (CPI) by sector, offering insights into where Canadians saw price increases, including shelter, food, and transportation. While historical, this analysis remains useful for understanding inflation trends and policy triggers.
