US EditionCanada's annual inflation unchanged at 1.7% in May, core measures slightly ease
- Statistics Canada indicated that the annual inflation rate remained unchanged at 1.7 per cent in May 2025, while shelter costs across the country increased by three per cent.
- Inflation remained steady as rent increases eased, influenced by slower growth in the number of residents and a surge in the availability of new rental apartments, with Ontario experiencing the most significant rent decrease.
- Additional factors influencing inflation included a 4.9 per cent rise in new vehicle prices, mainly due to costlier electric vehicles, a 5.5 per cent drop in cell phone service costs, and year-over-year declines in travel tours and energy prices.
- Core inflation metrics tracked by the Bank of Canada ticked down to three per cent in May, while inflation excluding tax changes remained steady at 2.3 per cent according to Statistics Canada.
- The May inflation figures feed into the Bank of Canada's policy decision scheduled for July 30 as Governor Tiff Macklem said the central bank is paying closer attention to core inflation amid tariff-related uncertainty.
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This is an increase equivalent to that of 1.7% in April, according to Statistics Canada.
Inflation Holds Steady at 1.7% in May as Rent Hikes Cool
The annual pace of inflation held steady at 1.7 percent in May as cooling shelter costs helped tame price pressures, Statistics Canada said Tuesday. Shelter costs rose three percent in May, StatCan said, marking a slowdown from 3.4 percent in April. The agency singled out Ontario as the major source of rent relief in the country. Slowing population growth and a jump in new supply helped dampen rent hikes in May. Mortgage interest costs meanwhile…
Canada Inflation Holds at 1.7% in May as Core Pressures Cool
Canadian consumer prices held steady while underlying core measures eased, likely giving some relief to Bank of Canada policymakers who had raised concerns about hotter underlying inflation prints in recent months.
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