Canada's inflation rate slows

Consumers in Canada paid just one percent more for goods and services in June than they did a year earlier, largely due to lower gasoline prices, officials said Friday. The inflation rate slowed from the 1.3 percent seen in May, and 1.6 percent in April, the Statistics Canada data showed.
It also was lower than the 1.1 percent inflation rate anticipated by economists for June - the fifth consecutive month that inflation came in below expectations. Statistics Canada said energy prices decreased 1.3 percent in the 12 months to June, following an increase the previous month. This included a 1.4 percent drop in gasoline prices.