Source: Andy Blatchford, The Canadian Press, September 18, 2019
Canada’s annual inflation rate slowed slightly to 1.9 per cent in August under the weight of declining gasoline prices.
Inflation was firm enough to stick close to the Bank of Canada’s ideal two per cent target — and August was the sixth straight month that price growth was 1.9 per cent or higher. The price picture, on its own, did not put pressure on the inflation-targeting Bank of Canada to adjust interest rates.
Excluding pump prices, the consumer price index was up 2.4 per cent from a year ago, Statistics Canada said Wednesday in a new report. Gas prices fell 10.2 per cent last month, which followed a decrease of 6.9 per cent in July.
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