Inflation rate in Canada cools to 2.1% in July
Canada's inflation rate slowed to 2.1 per cent in July, slightly below the 2.4 per cent in the previous month.
Statistics Canada reported Friday that shelter and food were the biggest contributors to the annual increase in the consumer price index, although all 12 components the agency tracks were higher.
The transportation sector was a weak point, however. After increasing by 5.4 per cent in June, the increase in pump prices slowed last month, to 2.1 per cent.
Regionally, consumer prices rose in every province. Ontario,Saskatchewan and Alberta posted the largest increases, while British Columbia recorded the smallest.
Saskatchewan and Alberta were the only provinces where prices rose at faster rates in July compared to June.
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