Statistics Canada says annual inflation rate drops in May for second month in a row

The agency says the consumer price index fell 0.4 per cent compared with a year ago

Statistics Canada says inflation pulled back even further in May as businesses shut due to the COVID-19 pandemic began to reopen slowly.

The agency says the consumer price index fell 0.4 per cent compared with a year ago, making it the second month in a row for negative inflation after a 0.2 per cent drop for April.

Prices rose in four of the eight major components on a year-over-year basis.

Transportation prices contributed the most to the overall decline, mainly because of lower gas prices compared with May last year.

Statistics Canada says that excluding gasoline, the consumer price index rose 0.7 per cent, the smallest increase since January 2013.

Economists on average expected the consumer price index to remain unchanged compared with a year ago — meaning an annual inflation rate of zero.

The Canadian Press

CanadaCoronaviruseconomy

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Aces aplenty at Vernon Golf Club

Local track has 14 recorded holes-in-one since April 30

Sad ending in case of missing Vernon senior

Body of Wayne Orser found floating in Okanagan Lake Tuesday, July 7

Vernon murder case back in court

Voir dire held for one of two accused in death of William Bartz in July 2017

North Okanagan district shifts attention to wildfire season

FireSmart, Grab-and-Go Bags and emergency planning among tips for wildfire preparedness

Vernon police deem car fire ‘suspicious’

A vehicle was fully involved last night on 24th Avenue, cause still unknown

84-year-old Okanagan resident finishes 12,000-piece puzzle

Willie Tribiger started the puzzle in 2013, completing it in six and a half years

LETTER: Keep your pooch on a leash

Hey there “responsible dog owner.” I would just like to say thank… Continue reading

LETTER: the cheapest and easiest way to save lives

We are all anxiously awaiting the arrival of a Coronavirus vaccine. So… Continue reading

Fraser Valley woman complains of violent RCMP takedown during wellness check

Mounties respond that she was not co-operating during Mental Health Act apprehension

B.C. sees 12 new COVID-19 cases, no new deaths

Three outbreaks exist in health-care settings

Lost dog swims Columbia River multiple times searching for home

The dog was missing from his Castlegar home for three days.

Booze on beach extended through summer in Penticton

Pilot project will stay in place until Oct. 15

COVID-19: B.C. promotes video-activated services card

Mobile app allows easier video identity verification

ICBC to resume road tests in July with priority for rebookings, health-care workers

Tests have been on hold for four months due to COVID-19

Most Read