Canadian consumer prices rise more slowly than expected in July
OTTAWA - Canada's annual inflation rate fell in July, with Statistics Canada reporting consumer prices rose 1.3 per cent from a year earlier.
That's down from June when prices were up 1.5 per cent from a year before.
On a seasonally adjusted monthly basis, the Consumer Price Index declined 0.1 per cent in July.
Core inflation, which excludes volatile items like energy and fresh fruit and vegetables — rose 1.7 per cent in the 12 months ended in July.
That followed a two per cent gain in June.
The Bank of Canada aims to keep inflation at an average of two per cent over the medium term.