According to the Consumer Price Index (CPI), consumers in Newfoundland and Labrador paid 3.8% more for goods and services in June 2026 than in June 2025, down from 4.4% in May.

Prices increased in most major categories in June 2026 compared with June 2025, led by the ‘Energy’ composite index.

• In June 2026, ‘Energy’ prices rose by 17.4% after increases of 25.7% in May and 21.6% in April 2026. This reflected significant increases in ‘Fuel oil and other fuels’ (+41.5%) and ‘Gasoline’ (+22.7%).
  • These increases were driven by higher oil prices. The price of Brent crude oil averaged US$85.40 per barrel in June 2026, an increase of 19.5% compared with June 2025, primarily due to the conflict in the Middle East.
  • The year-over-year price increase for gasoline in June was also influenced by the switch to the more expensive summer blend. However, the federal fuel excise tax was removed on April 20, 2026, slightly moderating the increase in gasoline prices.
• Prices for ‘Transportation’ increased by 7.0%, driven mainly by higher fuel prices.
• Prices for ‘Shelter’ increased by 4.4%.
  • There was an increase in the ‘Rented accommodation’ index (+5.2%), which includes rent costs, and an increase in the ‘Owned accommodation’ index (+1.7%), which includes mortgage interest costs. While the mortgage interest cost index is not available for Newfoundland and Labrador, it declined at the national level in June 2026 (-0.3%).
  • Shelter price changes were also affected by higher prices for both ‘Fuel oil and other fuels’ (+41.5%) and ‘Electricity’ (+6.9%). Electricity rates in Newfoundland and Labrador increased by an average of 7.0% for residential consumers effective July 1, 2025, as implemented by Newfoundland Power, the province’s primary electricity retailer.
• ‘Food’ prices increased by 2.3% in June 2026 compared with June 2025, following a 2.1% increase in May 2026. Prices increased for both ‘Food purchased from stores’ (+2.6%) and ‘Food purchased from restaurants’ (+1.9%).
  • Price increases for food purchased from stores were largely attributable to higher prices for ‘Vegetables and vegetable preparations’ (+5.6%) and ‘Fruit, fruit preparations and nuts’ (+5.5%). Prices also increased significantly for ‘Fresh or frozen beef’ (+13.0%). These increases were partly offset by a decline in prices for some products, including ‘Butter’ (-4.7%) and ‘Fresh or frozen chicken’ (‑3.7%).

The ‘All-items excluding energy’ index increased by 2.2% in June 2026 compared with June 2025.

At the national level, the CPI increased 2.8% on a year-over-year basis in June 2026, down from 3.2% in May 2026, reflecting a broad easing in inflationary pressures. Inflation slowed in every province except Prince Edward Island, with slower gasoline price growth contributing significantly to the deceleration. Among the provinces, the highest inflation rate was recorded in Nova Scotia (+4.7%), while the lowest was recorded in Ontario (+2.0%).

On a seasonally adjusted basis, consumer prices in Canada decreased by 0.1% from May to June 2026. Seasonally adjusted CPI data are not available for Newfoundland and Labrador.

The United States CPI for all urban consumers increased by 3.5% in June 2026 compared with June 2025. The seasonally adjusted index decreased by 0.4% in June 2026 compared with May 2026.

On a year-to-date basis, consumers in Newfoundland and Labrador paid 3.1% more for goods and services in the January to June 2026 period compared with the same period in 2025, led by higher prices for ‘Energy’ (+9.4%), ‘Food’ (+4.1%) and ‘Shelter’ (+3.7%).

Year-Over-Year Change in CPI, June 2026 vs. June 2025