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Home Canadian Press Falling gas prices helped slow December inflation to 1.5%: Statistics Canada

Falling gas prices helped slow December inflation to 1.5%: Statistics Canada

OTTAWA — The fall of prices at the pump helped slow Canada’s annual inflation rate last month to 1.5 per cent.

The increase compared with a gain of two per cent set in November.

Statistics Canada’s latest consumer price index found gasoline prices fell even further in December, sliding 16.6 per cent from the previous month.

Compared with a year earlier, the federal agency says consumer prices rose in seven of the survey’s eight major categories with transportation the lone decliner.

The December headline inflation reading matched economists’ expectations, according to Thomson Reuters.

The core inflation measure, which excludes some volatile items such as gasoline, accelerated slightly in December to 2.2 per cent to match economists’ expectations.

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