Canadian consumer prices rise more slowly than expected in July

Friday, Aug 17, 2012 06:45 am | The Canadian Press

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.

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