Inflation Rate 2024 Canada July. The bank of canada today reduced its target for the overnight rate to 3¾%, with the bank rate at 4% and the deposit rate at 3¾%. Some of the most notable annual average price increases experienced by canadian consumers were for gasoline (+28.5%), food purchased from stores (+9.8%) and shelter (+6.9%).
Inflation in the uk flatlined at the bank of england’s target of 2.0% in the 12 months to june 2024, strengthening hopes that the bank will reduce the bank rate from 5.25% to 5%. Inflation in canada remains high but should come down quickly to around 3% in the middle of this year because of lower energy prices, improved supply chains and restrictive.
