A sigh of relief for those worried over possible rate hikes by the Bank of Canada: Canada's inflation rate slowed to 2.1% in July, slightly below the 2.4% figure in the previous month.
Statistics Canada reported Friday that shelter and food were the biggest contributors to the annual increase in the consumer price index, although all 12 components the agency tracks were higher.
The transportation sector was a weak point, however. After hiking 5.4% in June, the increase in pump prices slowed last month, to 2.1%.
Regionally, consumer prices rose in every province. Ontario, Saskatchewan and Alberta posted the largest increases, while British Columbia recorded the smallest.
Saskatchewan and Alberta were the only provinces where prices rose at faster rates in July compared to June.
