Breaking: Canada's headline CPI rose by 2.8% YoY in June

Canada’s inflation has cooled a tad in June, with the Consumer Price Index (CPI) rising 2.8% from a year earlier, coming in belw market expectations and down from the 3.2% increase recorded in May. On a monthly basis, prices dropped by 0.4%.

Meanwhile, the Bank of Canada’s (BoC) preferred core measure, which excludes more volatile components such as food and energy, rose 2.1% over the past year and increased by 0.1% compared with the previous month