Canada Posts 1.7 Percent Inflation in May
(MENAFN) Canada’s annual inflation rate remained steady at 1.7% in May, unchanged from April, Statistics Canada reported Tuesday, signaling a pause in momentum as select consumer costs moderated.
The national statistics agency noted that year-over-year price increases for rent slowed, while travel tour costs fell, both contributing to downward pressure on the Consumer Price Index (CPI).
Offsetting these factors, smaller month-over-month declines in gasoline and cellular service prices exerted upward pressure on the overall index, the agency said.
When excluding energy prices, the CPI rose 2.7% in May—slightly lower than April’s 2.9% increase—pointing to a modest cooling in core inflation.
On a monthly basis, the CPI climbed 0.6% in May, according to Statistics Canada.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
