Canada’s Inflation Rate Continues to Drop in August, This Time Matched with a Drop in BC

Canada’s inflation rate continued to slow in August, for the second month in a row, and this time BC’s rate also dropped.

After hitting record highs in June, the national inflation rate dropped to 7.6 percent in July, though BC’s rate continued to increase, hitting 8 percent.

But, after not seeing a drop for a full year, StatCan says the national rate hit 7 percent Canada-wide in August, and 7.3 percent in BC.

A 9.6 percent drop in gas prices, and a 6.5 percent decrease in energy costs are the largest factors in the drop.