Canadian annual inflation rate 0.1% in August

In Alberta, the annual inflation rate was up 0.6 per cent

The Consumer Price Index (CPI) in Canada rose 0.1 per cent on a year-over-year basis in August, matching the 0.1 per cent increase in July, reported Statistics Canada on Wednesday.

Excluding gasoline, the CPI rose 0.6 per cent in August, following a 0.7 per cent increase in July.

In Alberta, the annual inflation rate was up 0.6 per cent.

On a month-over-month basis, the CPI was down 0.1 per cent in Canada and decreased by 0.5 per cent in Alberta.

StatsCan said gas prices in Canada were down 11.1 per cent in August on a year-over-year basis, following a 14.9 per cent decrease in July. 

“The more moderate year-over-year price decline in August stemmed from weaker gas prices in August 2019, when gas prices declined as result of higher production and softer international demand,” it said.

 

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