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Canada inflation eases to 1.7%, driven by falling gas prices
Out of 10 Canadian provinces, six saw prices rising at a slower year-over-year pace in July compared with June. Nova Scotia’s inflation held steady. Quebec, Prince Edward Island and Newfoundland and Labrador saw higher inflation in July, with the latter experiencing the most acceleration, mainly due to higher electricity prices.
Canada’s inflation rate slows to 1.7% in July, led by falling gasoline prices
Canada’s inflation rate fell to 1.7 per cent in July, slowing slightly more than expected and easing some fears about sticky price growth. Statistics Canada’s consumer price index report on Tuesday said the deceleration was led by a decline in gasoline prices, which reflected the removal of the consumer carbon price.
Why is my grocery bill climbing even as Canada’s inflation rate falls? Here’s what’s behind the numbers
A big drop in gasoline prices is behind Canada’s inflation rate remaining low. Statistics Canada released its July Consumer Price Index (CPI) figures Aug. 19, which noted the rate dropped since June — and is now at 1.7 per cent. In June, it was a 1.9 per cent.
Consumer inflation in Canada rose by less than expected in July, according to Statistics Canada, as falling gasoline prices offset price increases elsewhere.
The Canadian Press on MSN4h
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