Several one-time factors including below-average food inflation and the Ontario government’s reduction in electricity prices have helped keep inflation in check this year
Retail sales contract in August
Retail sales strengthen in July
The annual rate saw its first increase since it peaked in January at 2.1%
The June number followed inflation readings of 1.3% in May and 1.6% in April, slipping further away from the Bank of Canada’s 2% target
Weaker year-over-year growth in gasoline prices helped slow the annual rate
However, meat prices are expected to jump in 2017
Higher energy prices offset lower food costs in April
Sliding food costs help offset rising gas prices as the pace of inflation decelerated from 2% in February
Lower food prices soften impact of higher prices for gasoline