# Canada's inflation falls to 27-month low but underlying pressures persist | Reuters

> Canada's annual inflation rate fell to a 27-month low of 2.8% in June, below expectations, driven by lower energy prices. Food and shelter costs continued to rise despite ten interest rate hikes in under 18 months.

- Date: 2023-07-18 · published 2023-07-18T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/35278-canada-s-inflation-falls-to-27-month-low-but-underlying-pressures-persist
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower energy prices ease some input costs, while persistent food inflation signals continued pressure on Canadian food and feed costs.

## Read by commodity

- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-03-14 | [Oil falls to three-month low on inflation worries, U.S. bank shutdowns](https://feedsoft.ai/events/37044-oil-falls-to-three-month-low-on-inflation-worries-u-s-bank-shutdowns.md) | -9.5% | +9.1% |
| WTI | 2021-12-15 | [Canadian dollar at nearly 3-month low as oil prices fall \| Reuters](https://feedsoft.ai/events/43853-canadian-dollar-at-nearly-3-month-low-as-oil-prices-fall-reuters.md) | +0.7% | +16.9% |
| WTI | 2021-08-15 | [Ringgit hits 1-year low after cabinet resignation; may face pressure in coming months - The Business Times](https://feedsoft.ai/events/45817-ringgit-hits-1-year-low-after-cabinet-resignation-may-face-pressure-in-coming.md) | -8.9% | +3.1% |
| WTI | 2025-08-19 | [Canada’s annual inflation rate eases to 1.7 per cent in July, core measures stay firm - Grainews](https://feedsoft.ai/events/23560-canada-s-annual-inflation-rate-eases-to-1-7-per-cent-in-july-core-measures-stay.md) | +1.4% | +1.0% |
| WTI | 2025-11-19 | [Canadian dollar falls the most in four months after key US data cancelled \| Reuters](https://feedsoft.ai/events/22180-canadian-dollar-falls-the-most-in-four-months-after-key-us-data-cancelled.md) | -5.1% | -8.5% |

## Sources

- reuters.com: https://www.reuters.com/world/americas/canadas-inflation-rate-drops-27-month-low-food-prices-still-elevated-2023-07-18/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.