OTTAWA — Canada’s annual inflation rate fell to 2.5 per cent last month, matching forecasters’ expectations as price pressures continue to retreat.
Tuesday’s consumer price index report says prices for travel tours, passenger vehicles and electricity helped drive the headline figure lower.
The federal agency noted, however, that shelter price growth slowed last month to 5.7 per cent year-over-year, down from 6.2 per cent in June. Grocery prices, which at one point were growing at a double-digit annual rate, are now rising at a much more modest pace. Last month, grocery prices were up 2.1 per cent from a year ago.Prices for services were up 4.4 per cent from a year ago, a trend that economists say reflects high wage growth.
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