FX.co ★ Canada’s Trimmed CPI Steady at 2.9% in June 2024

Canada’s Trimmed Consumer Price Index (CPI) remained consistent at 2.9% year-over-year for June 2024, according to the latest data updated on July 16, 2024. This mirrors the rate recorded in May 2024, indicating a stable inflation trend over the recent months.

The Trimmed CPI, which helps to portray underlying inflation trends by excluding the most volatile components, has now stood at 2.9% for two consecutive months despite varying economic conditions. The year-over-year comparison shows that this stability was evident in both May and June, with no significant shifts as observed in the month-to-month analysis.

Canada's central bank and financial analysts closely monitor the Trimmed CPI for policy-making purposes, assessing the stability and predictability of inflation to guide economic decisions. The steadiness in June’s data suggests a balanced inflationary environment, offering a degree of certainty to investors and indicating controlled cost pressures within the economy.