The annual pace of inflation slowed in December compared with November as gains in the price of gasoline slowed.
Figures released Friday by Statistics Canada reveal the consumer price index for the final month of 2017 was up 1.9% compared with the same month a year earlier. That compared with a reading of 2.1% in November.
Excluding gasoline, prices were up 1.5% year over year in December, matching the increase in November.
Prices were up in seven of the eight major catergories as the transportation index which includes gasoline and the shelter group led the way.
Transportation prices were up 4.9% from a year ago compared with a 5.9% increase in November. Gasoline, a key component of the group, climbed 12.2% compared with a year earlier following a 19.6% increase in November.
StatsCan's shelter index climbed 1.4% compared with a year ago as natural gas prices rose 6.2% following a 3.1% increase in November.
