Consumer Price Index, June 2026
August 5, 2026
The Consumer Price Index (CPI) increased 2.8% year over year in June, following a 3.2% gain in May.
Prices for gasoline increased at a slower rate on a year-over-year basis in June compared with May, driving the deceleration in the headline CPI. Excluding gasoline, the CPI was unchanged in June compared with May, at 2.2%.
The CPI fell 0.4% month over month in June, the largest monthly decline since December 2024. On a seasonally adjusted monthly basis, the CPI fell 0.1% in June, the first decline since April 2025 (-0.2%).
Chart 1
The 12-month change in the Consumer Price Index (CPI) and CPI excluding gasoline
Chart 2
Five of the eight major components decelerate in June
Gasoline prices increase at a slower rate in June
Prices at the pump increased at a slower rate on a year-over-year basis in June (+20.5%) compared with May (+33.2%). While gasoline prices remained elevated due to the conflict in the Middle East, diplomatic talks and an interim ceasefire arrangement contributed to an easing of global oil prices in June, leading to a 10.2% month-over-month decline. This was the largest monthly decline in gasoline prices since April 2025, when prices fell due to the removal of the consumer carbon levy.
Chart 3
Gasoline price growth slows in June, but remains elevated
Prices for travel-related services rise as the World Cup kicks off
Prices for traveller accommodation accelerated on a year-over-year basis in June, rising 10.1% compared with a 2.5% increase in May. Driving the acceleration were higher prices in Ontario (+19.4%) and British Columbia (+20.0%), mainly in Toronto and Vancouver, both of which were host cities for World Cup matches. At the same time, prices for the rental of passenger vehicles index rose 6.8% on a year-over-year basis, coinciding with higher demand for travel.
Consumers paid 6.8% more for travel tours on a year-over-year basis in June, up from a 0.7% increase in May. In addition, prices for air transportation rose at a faster pace in June (+9.6%) compared with May (+7.4%) on a yearly basis, marking the largest increase since February 2023. Contributing to the price increase were higher jet fuel costs and greater demand for domestic travel.
Chart 4
Prices accelerate for travel-related services in June
Prices for passenger vehicles decelerate
On a year-over-year basis, the purchase of passenger vehicles index increased at a slower rate in June (+1.9%) compared with May (+2.5%), with prices for both new and used vehicles contributing to the slowdown. This was the smallest price increase in the purchase of passenger vehicles index since March 2025.
Food purchased from stores index decelerates in June
Prices for food purchased from stores grew at a slower pace on a year-over-year basis in June (+3.9%) compared with May (+4.3%). Despite the slowdown, June was the 17th consecutive month that grocery price inflation outpaced the all-items CPI.
The year-over-year deceleration in grocery prices in June was driven by slower price growth for fresh fruit (+1.7%), mainly due to lower prices for grapes (-0.6%).
Moderating the slowdown in grocery prices were higher prices for fresh or frozen chicken (+5.7%), bread, rolls and buns (+6.0%) and frozen food preparations (+2.7%).
Regional highlights
Year over year, prices rose at a slower pace in June compared with May in all provinces, except Prince Edward Island. The deceleration of gasoline prices was the main contributor to the slower price growth nationwide.
Internet access services fell 3.8% in June following a 0.3% gain in May. The year-over-year decline in June was due to lower prices offered in most of Western Canada.
On a year-over-year basis, prices for cellular services rose 2.6% in Quebec when prices for new plans increased following the end of promotional offers across the province.
Year over year, prices in Ontario rose 2.0% in June, the smallest increase in the country, due to slower price growth for food purchased from restaurants. Nova Scotia had the largest gain at 4.7%, mostly due to higher prices for traveller accommodation.
Chart 5
Year over year, prices rise at a slower pace in all provinces in June except for Prince Edward Island
