BREAKING: Canada's inflation rate was in negative territory for the second straight month in May, according to StatCan
the consumer price index for May was down 0.4 per cent compared with one year ago, extending the run of negative inflation that began in April even as businesses that were shut due to the COVID-19 pandemic began to reopen.
The result compared with a year-over-year decline of 0.2 per cent in April, when energy prices plunged. Economists on average expect the consumer price index to remain unchanged compared with a year ago -- meaning an annual inflation rate of zero. Statistics Canada says that excluding gasoline, the consumer price index rose 0.7 per cent, the smallest increase since January 2013.Signage mark the Statistics Canada offices in Ottawa on July 21, 2010. THE CANADIAN PRESS/Sean Kilpatrick
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