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Province's inflation rate dips in December

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Inflationary pressures eased a little in Manitoba in January, according to new Statistics Canada figures released today.

The agency said the province’s annual inflation rate dipped to 1.2 per cent from 1.3 per cent in December.

Despite the improvement, Manitoba still has the third highest provincial inflation rate, behind Nova Scotia’s 1.4 per cent and Prince Edward Island’s 1.3 per cent. British Columbia boasts the lowest — a mere 0.3 per cent.

Statistics Canada said lower gasoline prices also helped to push Canada’s inflation rate to its lowest level in more than three years.

The agency said Canada’s consumer price index in January was up 0.5 per cent, the slowest pace since October 2009 and below economists’ expectations of a 0.7 per cent increase.

December’s gain had been 0.8 per cent .

Core inflation, which is watched by the Bank of Canada and excludes the most volatile items, was 1.0 per cent for January — at the low end of the central bank’s target range.

— With files by Canadian Press

murray.mcneill@freepress.mb.ca

 

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