Canada’s inflation rate hit 2 per cent in August, slowest pace since February 2021 #CanadaFinance

Canada’s annual inflation rate slowed to 2 per cent in August, the slowest pace since February 2021.

Statistics Canada said on Tuesday that gasoline helped pull back inflation, due to a combination of lower prices and base-year effects.

On a monthly basis, CPI fell 0.2 per cent in August. Seasonally adjusted, CPI was 0.1 per cent higher than July.

Canada’s annual inflation rate had slowed to 2.5 per cent in July.

More to come.

Alicja Siekierska is a senior reporter at Yahoo Finance Canada. Follow her on Twitter @alicjawithaj.

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