THE RATE OF INFLATION HAS GONE DOWN AGAIN!

Wednesday Sep 21st, 2022

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Canada’s annual inflation rate was down again in August, falling to 7%.

Figures released by Statistics Canada on Tuesday showed that last month’s decrease in the inflation rate was even greater than economists, who expected the rate to hit 7.3%.

Gas prices plummeted by 9.6% in August on a month-over-month basis, although food prices saw a 10.8% spike compared with the same time last year.

The national statistics agency said that multiple factors had contributed to that surge in the cost of food including extreme weather, the  higher input costs and supply chain snarls.

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