Canada August Inflation Slows to 1.1% on Mortgages, Drugs
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Canada’s inflation rate slowed for the first time in four months in August, approaching the bottom of the central bank’s target band, on lower costs for mortgage interest and prescription drugs.
The consumer price index rose 1.1 percent in August from a year ago, following July’s 1.3 percent pace, Statistics Canada said today from Ottawa. The core rate, which excludes eight volatile products, slowed to 1.3 percent from 1.4 percent.