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Annual rate of inflation hits 3.1% in June, down from May high
Jul 28, 2021 | 7:33 AM
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OTTAWA, ON – Statistics Canada says the annual rate of inflation hit 3.1 per cent in June.
The reading for the consumer price index is down from the 3.6 per cent recorded in May, which was the largest yearly increase in a decade.
Statistics Canada says part of the reading for June has to do with comparing prices to the lows recorded in the same month last year.
Gasoline prices, for instance, saw a year-over-year rise of 32 per cent in June compared with 43.4 per cent in May because gasoline prices had partially recovered in June 2020 after plummeting at the start of the pandemic.
