Canadian consumer price inflation is widely expected to have decelerated to 2.9% in June, down from a recent high of 3.2% in May, according to a Reuters poll of economists.
The anticipated softening comes as Statistics Canada prepares to publish its official inflation data for the month.
8% in June and UK consumer price inflation expected to slow further to 2.
The projected decline is largely attributed to falling gasoline prices, which have provided a tailwind for consumers and helped ease headline pressure.
Motorists have seen relief at the pump, a factor that economists believe will be the primary driver behind the month-over-month improvement in the consumer price index.
This expected moderation in Canadian price pressures aligns with a broader global trend of cooling inflation.
Recent data from other major economies has shown similar deceleration, with Eurozone headline inflation falling to 2.8% in June and UK consumer price inflation expected to slow further to 2.4%.