ottawacanadas annual inflation rate cooled in june driven by a drop in prices at the pump the countrys consumer price index climbed 28 from a year earlier statistics canada said tuesday the market was expecting the index to rise 3 for the month after it retreated to 34 in may according to economists at td securities on a monthovermonth basis prices rose 01 in june weaker than the consensus forecast for an increase of 03 on a seasonally adjusted basis cpi also rose 01 from the previous month meanwhile the average of the bank of canadas preferred trimmed mean and weighted median measures for underlying core inflation in june was 38 down from 39 the month before core inflation provides a measure of price changes that excludes volatile goods such as food and energy