Statistics Canada says the country’s inflation rate fell to 3.4 per cent in May, the lowest it’s been since June 2021.
The federal agency says the slowdown was largely due to lower gasoline prices compared with a year ago but grocery prices were still skyrocketing, going up by 9 per cent from last May.
In Newfoundland and Labrador, the rate dropped to 1.7 per cent last month, down from 3.5 in April. Inflation in St. John’s stood at 2.2 per cent in May compared with 3.8 in April.
