If inflation is 'cooling,' why are prices still so high?
- In June, consumer prices declined 0.4%, pulling the annual inflation rate down to 3.5% from 4.2% in May, according to Statistics Canada.
- Falling gasoline prices contributed to the annual inflation rate that "cooled" in June, providing temporary relief for Google Consumers at the pump.
- Despite the monthly decline, the 3.5% annual inflation rate remains higher than any month in 2025, according to Elizabeth Renter, senior economist at NerdWallet.
- The Bank of Canada held its benchmark interest rate steady earlier this week, though the ongoing Middle East conflict near the Strait of Hormuz creates uncertainty.
- Rising gas prices in July threaten to push the headline inflation rate higher, and Economist Benjamin Reitzes warns it is too soon to declare a peak.
44 Articles
44 Articles
Annual inflation in the European Union decreased to 2.9 percent in June, from 3.3 percent in May.
The fall in gasoline prices in June is expected to bring annual inflation below the 3% mark, while Statistics Canada will release its new consumer price index data on Monday.
The Times of Northwest Indiana
If inflation is 'cooling,' why are prices still so high?
Consumers learned inflation “cooled” in June, thanks in part to falling gas prices. However, prices still rose — the 3.5% annual inflation rate for June was higher than the inflation rate in any month of 2025. Inflation is complicated. Prices can be down for the month, as they were in June, but up for the year, and a falling inflation rate doesn’t necessarily equate to falling prices.
Consumer inflation (CPI) in the euro area fell by 0.1% in June before May and accumulated high by 2.8% in 12 months, below the 3.2% recorded in May, reported on Friday (17) to Eurostat, the European Union's statistical body. The CPI core rose by 0.2% in the month and advanced by 2.4% in 12 months. In the European Union, annual inflation also slowed from 3.3% in May to 2.9% in June. Among the bloc countries, the lowest annual rates were recorded …
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