Canada’s Inflation Rate Cools in August but Grocery Prices Continue to Climb

Canada’s Inflation Rate Cools in August but Grocery Prices Continue to Climb
Canadian $100 bills are counted in Toronto on Feb. 2, 2016. Graeme Roy/The Canadian Press
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Canada’s annual inflation rate slowed to 7.0 percent in August largely driven by the price of gasoline falling, but the cost of groceries continues to climb.
In its latest monthly consumer price index (CPI) report, Statistics Canada said grocery prices rose at the fastest rate since 1981, with prices up 10.8 percent compared with a year ago.