The cost of living in Canada increased at an annual rate of 1.3% in July, slightly higher than the previous month as food prices got more expensive, even as energy kept getting cheaper.
Statistics Canada's consumer price index said the inflation rate was 1.3% for the month, after coming in at 1% in June.
The showing was slightly lower than the 1.4% that economists had been expecting, but still well within the range of between 1-3% that the Bank of Canada likes to see in setting its interest rates.
Food prices increased 3.2%, led by meat prices, which rose 6.1% in the previous year.
On the flip side, the transportation index — which includes gas prices — continued to trend lower, declining by 1.7%.
Nine provinces saw inflation during the month, the rate was in Saskatchewan, at 1.9%
The only province that didn't see a positive inflation rate, P.E.I., has now seen prices decline for eight straight months. The province's inflation rate came in at –0.1% for the month.
