Excluding gasoline, headline inflation would have been 4.0% in June, following a 4.4% increase in May.
Canadians continued to see elevated grocery prices (+9.1%) and mortgage interest costs (+30.1%) in June, with those indexes contributing the most to the headline CPI increase.
The all-items excluding food index rose 1.7% and the all-items excluding mortgage interest cost index rose 2.0%.
https://www150.statcan.gc.ca/n1/daily-quotidien/230718/dq230718a-eng.htm?HPA=1
The fact that inflation-controlling measures(interest rates) are causing inflation. . . seems so wrong.
Maybe I’m wrong but usually isn’t a recession caused when people stop buying things they don’t need because they can no longer afford them? Restaurants, boats, cars, vacations, etc? Well what happens when many Canadians can’t afford transportation to get to/from work, repair their vehicle, rent, mortgage, and food?
Necessities are hard to afford now