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BCN-17
CANADA-ECONOMY-INFLATION
Canada inflation down slightly as election looms
OTTAWA, Sept 19, 2019 (BSS/AFP) – Canadians paid 1.9 percent more for goods
and services in August than a year earlier, with higher air fares partly
offset by lower gasoline prices, the government statistical agency said
Wednesday.
After reaching a low of 1.4 percent in January, inflation jumped to 1.9
percent and held relatively steady for six months. In July it hit 2.0
percent.
Although the economy has been strong by most macro economic indicators,
Canadians have voiced growing concerns about affordability going into October
national elections pitting Liberal Prime Minister Justin Trudeau, seeking a
second term, against Conservative leader Andrew Scheer.
The latest polls show the two main parties neck and neck in the race to the
October 21 ballot.
According to Statistics Canada, as the labor market strengthened this year
there were broad-based gains in the consumer price index.
Canadians paid more in August for mortgage interest costs, cars and car
insurance, and rent, but less for traveller accommodations, internet
services, homeowner replacement costs and furniture.
Air fares notably were up more than 10 percent during the final month of
the busy summer travel season, largely due to the grounding of Boeing 737 MAX
aircraft in March.
Gasoline prices, meanwhile, fell more than 10 percent in the 12 months to
August.
BSS/AFP/HR/1010