August inflation dips to 1.2 per cent
OTTAWA – Canada’s inflation rate continued to slide in August, dipping one-tenth of a point to 1.2 per cent as most goods and services tracked by Statistics Canada rose moderately or fell compared with the same month last year.
The agency said the result returned the inflation rate to where it stood in May and equalled the lowest level in the consumer price index in more than two years.
The weakness in inflation was anticipated by economists — although the consensus was for the index to remain unchanged — and is typical of a weak economy where retailers and producers face soft demand.
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