Canada’s inflation rate stayed at 1.7 percent in May, remaining unchanged from the previous month due to a slowdown in the growth of shelter prices.
The latest Statistics Canada data indicated that when compared to one year ago, the Consumer Price Index saw downward pressure due to smaller price increases for rent and a decline in travel tours. Compared to last month, there were smaller declines for gasoline and cellular services, which put slight upward pressure on the index.
