OTTAWA, July 16 (Xinhua) — Canada’s Consumer Price Index (CPI) rose 2.7 percent on a year-over-year basis in June, down from a 2.9 percent gain in May, Statistics Canada said Tuesday.
The deceleration was largely the result of slower year-over-year growth in gasoline prices, which rose 0.4 percent in June following a 5.6 percent increase in May, the national statistical agency said.
Excluding gasoline, the CPI rose 2.8 percent in June, the agency added.
According to the agency, lower prices for durable goods also contributed to the slowdown in the all-items CPI in June.
On a monthly basis, the CPI fell 0.1 percent in June, following a 0.6 percent increase in May.
The monthly decrease was driven by lower prices for travel tours and gasoline. On a seasonally adjusted monthly basis, the CPI rose 0.1 percent in June, said Statistics Canada.
