Statistics Canada says the country's inflation rate fell to 3.4 per cent in May -- the lowest it's been since June 2021.
Canada's inflation rate fell to 3.4 per cent in May -- the lowest it's been since June 2021.
Statistics Canada reported Tuesday the slowdown was largely due to lower gasoline prices compared to a year ago. Meanwhile, the slowdown in the headline rate comes after inflation ticked up in April to 4.4 per cent, marking a slight reversal of the progress made since last summer. The central bank will be paying particular attention to its core measures of inflation, which strip out volatility. Those measures also declined last month.
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