July inflation decelerates as car prices shift into reverse: StatCan

The annual rate of inflation cooled to 2.5 per cent in July, the slowest pace for price growth since March 2021, Statistics Canada said Tuesday. According to the agency, the deceleration in price hikes was “broad-based” last month, with lower prices for travel tours, passenger vehicles and electricity. Anne Gaviola has more on why this relief on paper may not feel like much of a reprieve in real-life and how this paves the way for another Bank of Canada interest rate cut in early September.