Statistics Canada’s consumer price index came in at 7.6 per cent in July from the same time last year, compared to 8.1 per cent in June. The Financial Post’s Stephanie Hughes breaks down the numbers and explains what you need to know about July’s reading, including if this marks a turning point in decades-high inflation.

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Has inflation peaked? Breaking down Canada's July CPI numbers Back to video

• Email: shughes@postmedia.com | Twitter: StephHughes95