OTTAWA — Statistics Canada says Canada’s annual inflation rate fell back to 1.4 per cent in May, down from 1.8 per cent in April.
The agency says energy prices were the key reason that prices moderated last month.
Overall, energy prices rose 6.2 per cent between May 2009 and last month, but that was a slower increase than experienced in April.
The closely watched Bank of Canada core inflation rate fell to 1.8 per cent from 1.9 per cent.
On a month-to-month basis, Canadians paid 0.3 per cent more for goods last month than they did in April.