Statistics Canada says annual inflation rate drops in May for second month in a row

The agency says the consumer price index fell 0.4 per cent compared with a year ago

Statistics Canada says inflation pulled back even further in May as businesses shut due to the COVID-19 pandemic began to reopen slowly.

The agency says the consumer price index fell 0.4 per cent compared with a year ago, making it the second month in a row for negative inflation after a 0.2 per cent drop for April.

Prices rose in four of the eight major components on a year-over-year basis.

Transportation prices contributed the most to the overall decline, mainly because of lower gas prices compared with May last year.

Statistics Canada says that excluding gasoline, the consumer price index rose 0.7 per cent, the smallest increase since January 2013.

Economists on average expected the consumer price index to remain unchanged compared with a year ago — meaning an annual inflation rate of zero.

The Canadian Press

CanadaCoronaviruseconomy

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

Just Posted

Seabridge Gold starts drilling along proposed tunnel route north of Stewart

Twin tunnels will connect the KSM mine to its mill and tailings site

Mother grizzly bear with two cubs spotted on Gruchy’s Beach trail near Terrace

Conservation officers also warning public to stay away from Grizzlies on lower Kitimat River

Terrace conservation officers relocate Spirit bear

Bear roamed Kitsumkalum Valley north of Terrace for many years

VIA Rail lays off 1,000 unionized workers across the country

Northern B.C. route Jasper to Prince George to Prince Rupert is not affected by VIA Rail layoffs

Overall house sales drop in the northwest

COVID-19 pandemic slowed market activity

B.C. identifies 20 new COVID-19 cases, travellers specified in count

Pandemic total 3,028 cases, 51 people from outside Canada

Survey, hotline launched amid probe into racist blood-alcohol guessing game at B.C. hospital

Mary Ellen Turpel-Lafond has been appointed to lead an investigation by Health Minister Adrian Dix

Canadian policing organization calls for decriminalization of simple illicit drug possession

Canadian Association of Chiefs of Police want policing focus of opioid crisis to be replaced with a health one

Large rogue floating ‘island’ corralled by Lac la Hache residents

At least 60 feet wide, this large mass of plants is free-floating on the lake

Filing deadline in RCMP sexual-harassment class-action extended due to COVID-19

Plaintiffs now have until January 2021 to submit claims for up to $222,000

Jamie Bacon pleads guilty to charge in Surrey Six case

The plea brings an end to a complex legal case that has spanned more than a decade

Hefty undeclared driver charges piling up, ICBC warns customers

Average extra penalty $2,971 after an at-fault accident

B.C. appeals judge’s decision to leave three clubhouses in Hells Angels hands

The province has filed two notices of appeal related to the B.C. Supreme Court decision

B.C. premier applauds call to decriminalize drug possession

Police shouldn’t struggle with health issues, Horgan says

Most Read