Our country’s inflation rate slowed to two per cent in August, down from 2.5 per cent in July, according to Statistics Canada.
Officials with the agency said the deceleration in the consumer price index was due in part to lower gasoline prices.
Year over year, prices at the pump fell 5.1 per cent in August following a 1.9 per cent increase in July.
Mortgage interest costs and rent remained the largest contributors to the increase.
The mortgage interest cost index rose 18.8 per cent in August compared to 30.9 per cent a year earlier.
Meanwhile, grocery prices climbed 2.4 per cent on a year-over-year basis compared to 2.1 per cent in July.
Year over year, prices rose at a slower pace in August compared with July in all provinces.
