Canada's Annual Inflation Rate Eases to 1.7% in July, Core Measures Stay Firm

Canada's annual inflation rate eased to 1.7% in July from 1.9% in the prior month as lower year-on-year gasoline prices kept the consumer price index low, but core measures of inflation stayed sticky, data showed on Tuesday.

Analysts polled by Reuters had forecast the annual inflation rate at 1.8% and the monthly inflation rate at 0.3%. The CPI increased by 0.3% in July from 0.1% in June on a monthly basis, Statistics Canada said.

Gasoline prices dropped by 16.1% on a yearly basis in July, following a...

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