Economy

Economic Commentary

Economic Calendar

Global Economies

Global Economic Calendar

Inflation Fades in May

The cost of living rose by 1.3% in the 12 months leading up to May, slightly slower than it increased the month before.

Figures released Friday by Statistics Canada showed that the inflation rate hike was down from a 1.6% annual pace in April.

One of the major factors dragging prices lower continues to be food, although by less than it was before.

The agency says food prices have dropped by 0.1% in the year up to May, with meat and bakery products contributing the most to the drop