Canada's inflation slows to 1.7 pct in July
Gasoline prices led the slowdown in the all-items CPI, falling 16.1 percent year over year in July, said the national statistical agency.
Excluding gasoline, the CPI rose 2.5 percent in July, matching the increases in May and June, said the agency.
According to the agency, prices for food purchased from stores rose at a faster pace in July, with confectionery prices up 11.8 percent and coffee prices up 28.6 percent, contributing to the increase in grocery prices.
The agency added that unfavorable weather conditions in growing regions led to higher prices for the primary ingredients used to produce these food products.
The CPI rose 0.3 percent month over month in July, said Statistics Canada.
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Canada's inflation slows to 1.7 pct in July
OTTAWA, Aug. 19 (Xinhua) -- Canada's Consumer Price Index (CPI) rose 1.7 percent year over year in July, down from a 1.9 percent increase in June, Statistics Canada said Tuesday. Gasoline prices led the slowdown in the all-items CPI, falling 16.1 percent year over year in July, said the national statistical agency. Excluding gasoline, the CPI rose 2.5 percent in July, matching the increases in May and June, said the agency. According to the agency, prices for food purchased from stores rose at a faster pace in July, with confectionery prices up 11.8 percent and coffee prices up 28.6 percent, contributing to the increase in grocery prices. The agency added that unfavorable weather conditions in growing regions led to higher prices for the primary ingredients used to produce these food products. The CPI rose 0.3 percent month over month in July, said Statistics Canada.
