Statistics Canada building and signs are pictured in Ottawa on Wednesday, July 3, 2019. Statistics Canada will say today what the country’s inflation barometer read in July. THE CANADIAN PRESS/Sean Kilpatrick

Inflation rate falls to 0.1 per cent as price growth slows, StatCan reports

Statistics Canada says air travel prices fell in July by 8.6 per cent

Statistics Canada says the consumer price index was up 0.1 per cent compared with a year ago, as gasoline prices were down nearly 15 per cent.

Excluding the drop in gasoline prices, the inflation barometer would have increased at an annual rate of 0.7 per cent, matching the same reading for June.

The average economist estimate had been for a year-over-year increase of 0.5 per cent for July, according to financial data firm Refinitiv.

The statistics agency says the slower pace of price growth was broad-based, spanning goods and services.

Statistics Canada says air travel prices fell in July by 8.6 per cent, the first year-over-year decline since December 2015.

It says the result was due to airlines offering incentives for people to travel again, including reduced fees, discounts and promotions even as many flights remained cancelled or suspended because of the pandemic.

READ MORE: Bank of Canada survey says business hiring plans remain muted due to pandemic

The Canadian Press


Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

Canadaeconomyinflation

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

Just Posted

BC VOTES 2020: Voter registration closes Saturday, Sept. 26

Voters can still register or update their information when they vote, but it will take longer

“I should be in school” — Quesnel alternate school students protest classroom removals

McNaughton Centre students took to the streets to protest on Sept. 24

Quesnel council eager to work with Barkerville Gold Mines

Councillors recently heard an update on the Cariboo Gold Project proposed underground mine

VIDEO: Cariboo-Chilcotin rally aims to stop antlerless moose hunt

Cow Moose Sign Project supported by First Nations, guide outfitters, ranchers

B.C. records 98 more COVID-19 cases, most in Lower Mainland

One new senior home outbreak, Surrey Memorial outbreak over

PHOTOS: 2nd calf in a month confirmed among Southern Resident killer whale pod

Center for Whale Research said they will eagerly await to observe the calf to evaluate its health

2 British Columbians arrested, 3 at large in massive Alberta drug bust

Eight people are facing 33 charges in what police have dubbed Project Incumbent

97 distressed horses, cats and dogs seized from farm in Princeton

RCMP assisted as BC SPCA executed search warrant

$250K reward offered as investigation continues into Sea to Sky Gondola vandalism

Police also asking for specific footage of Sea to Sky highway around time of incident

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Trudeau ‘disappointed’ by RCMP treatment of Sikh officers over mask issue

World Sikh Organization of Canada said taking Sikh officers off the front lines constitutes discrimination

Liberals reach deal with NDP on COVID-19 aid bill, likely averting election

NDP and the Liberals have reached an agreement on COVID-19 sick-leave

Money laundering inquiry delayed over of B.C. election: commissioner

Austin Cullen says the hearings will start again on Oct. 26

Most Read