Canadian inflation falls to lowest level in three years at 0.8 per cent - InfoNews

Current Conditions

Cloudy
0.4°C

Canadian inflation falls to lowest level in three years at 0.8 per cent

December 21, 2012 - 5:40 AM

OTTAWA - Statistics Canada says the pace of annual inflation fell sharply last month to the lowest level more than three years.

The agency says prices were up 0.8 per cent year-to-year in November, down from 1.2 per cent increases in each of October and September.

Statistics Canada says November had the lowest inflation since October 2009, when the country was just emerging from the recession.

The agency says the major reason for the drop-off was gasoline prices, which fell 5.7 per cent from October to return to about the same level they were a year ago.

As well, motor vehicles cost 1.8 per cent less last month than they did a year ago.

Regionally, inflation was highest in Prince Edward Island and Quebec at 1.5 per cent, and lowest in British Columbia, at a barely visible 0.1 per cent.

News from © The Canadian Press, 2012
The Canadian Press

  • Popular kamloops News
View Site in: Desktop | Mobile