Canada: Annual CPI Declines to 3.1% in June

Annual inflation in Canada, as measured by the Consumer Price Index (CPI), declined to 3.1% in June from 3.6% in May, the data published by Statistics Canada revealed on Wednesday. This reading came in lower than the market expectation of 3.2%. On a monthly basis, the CPI edged lower to 0.3% from 0.5% in May.