Aug 22, 2014

By Scott Walker

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Canada’s annual inflation rate softened in July. But it’s not likely to set off any alarm bells.

Prices increased year-over-year by 2.1 per cent. That’s down from 2.4 per cent in June.

But they were up across the board, with the cost of food and shelter leading the way.

Statistics Canada says all twelve components of the Consumer Price Index edged higher.

The highest gains were seen here in Ontario, along with Saskatchewan and Alberta.

The Bank of Canada is usually more concerned with core inflation, which excludes volatile items such as energy and food. It rose by 1.7 per cent, down from 1.8 per cent in June.

The central bank likes to see it around to two per cent.

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