Bank of Canada

In July 2012, Canada’s inflation rate slowed to 1.3% year-over-year, as reported by Statistics Canada. The moderation was driven by falling gasoline, footwear, and clothing prices, even as food and electricity costs continued to rise. This historical inflation snapshot highlights key cost drivers, including restaurant meals, meat, and cereal products. With eastern Canada experiencing drought conditions at the time, future food prices were a concern. The Bank of Canada’s core index stood at 1.7%, still under the critical 2.0% threshold. This report is useful for those tracking long-term trends in Canadian inflation and cost-of-living metrics.

In June 2012, Canada’s Consumer Price Index rose 1.5% year-over-year, a modest increase led primarily by higher costs for electricity and passenger vehicles. Surprisingly, gasoline prices declined, while electricity surged 5.9% due to rate hikes in Ontario, Alberta, and B.C. The Bank of Canada’s core inflation index climbed to 2.0%, matching its policy threshold and signaling potential future interest rate changes. This post includes full Stats Canada CPI tables and a breakdown of which sectors saw the most price movement. Though the data is historical, it remains valuable for understanding how inflation drivers shift over time and how energy costs can influence broader economic policy.