Canada CPI rises 2.8% YoY in June 2026

Canada's Consumer Price Index increased by 2.8% year‑over‑year in June 2026, a slowdown from the 3.2% rise recorded in May and far below the 8.1% surge seen in June 2022. Fuel prices remain elevated due to the ongoing conflict involving Iran, while vehicle prices rose 1.9% (down from 2.5% in May) and food prices rose 3.9% (down from 4.3%). Travel‑related costs also climbed in June, driven by World Cup activity.

A 2026 Food Banks Canada survey found that 39% of respondents felt financially worse off than a year earlier, and the organization reports that food‑bank usage has more than doubled since 2019. With wages and pensions not keeping pace with rising consumer prices, many households face tighter budgets and difficult choices.