Canada's consumer price index grew at a slower rate in July, as prices ticked higher in almost every province and every component group that Statistics Canada watches.
Prices were 1.3% higher in July than they were a year earlier. That was less than the 1.5% annual pace seen a month earlier, and less than the 1.6% rate that economists had been expecting.
Food prices rose by 2.1% in the 12 months up to July, ahead of the 2% pace of gain in June. Those two months represent the lowest year-over-year gains in food prices since the beginning of 2011.
In the energy sector, gasoline prices fell 1.3% in the year ended in July, and natural gas prices were 15.2% lower than they were a year ago. But the cost of electricity increased 3.7% year-over-year, after a 5.9% rise the month before
Consumer prices rose for every major component with the exception of clothing and footwear, Statistics Canada said.
And with the exception of P.E.I. and Manitoba, every province saw prices rise at a slower rate.
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