Canada: Inflation rate dips to 3.1% as shelter and transport costs rise

Canada's inflation rate came in at 3.1 per cent in June as prices for shelter and transportation rose quickly, while increases for things like food, clothing and recreation slowed down from May's level.

Statistics Canada reported Wednesday that shelter costs have increased by 4.4 per cent in the past year, and transportation costs went up by 5.6 per cent compared to June 2020.

But the inflation rate was dragged lower because the price of many goods has come down from where it was last year, including beef, which has declined by 11 per cent, fresh vegetables (down by 7.5 per cent) and cellular services (down an eye-popping 21 per cent).

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