Canada's Inflation Rate Slows Down to Seven Percent

Tuesday, 20 September 2022 11:57

By Linda Morgan

Cost of groceries continues to climb, but cheaper gas, transportation and shelter prices helped bring down the inflation rate last month.

Cheaper prices at the pump helped lower the inflation rate last month to seven percent.

Statistics Canada says this is the second month in a row that the year over year inflation rate has slowed down.

The agency says transportation and shelter prices were major factors.

However, grocery prices rose at the highest rate since 1981.

Prices at the grocery store are 10.8 percent higher than a year ago.

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