People shop at a Walmart in Vaughan, Ont., on Wednesday, July 2, 2024. Canada's inflation rate fell to two per cent in August 2024, Statistics Canada reported on Tuesday, finally hitting the Bank of Canada's set target in its long campaign to cool price growth.
Canada's inflation rate decreased to two per cent in August, Statistics Canada reported on Tuesday, finally hitting the Bank of Canada's target in its long campaign to cool price growth.People shop at a Walmart in Vaughan, Ont., on July 2. The inflation rate in Canada decreased to two per cent in August, Statistics Canada says.
Last month's two per cent rate marks the slowest pace of growth since February 2021. The Bank of Canada's preferred core measures of inflation also ticked down a notch. Grantham noted that if mortgage interest costs were excluded from overall inflation, the rate would have come in at 1.2 per cent year over year.
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