The country’s annual inflation rate cooled slightly last month — but at 2.2 per cent, it stayed hot enough to hover above the two per cent midpoint of the Bank of Canada’s ideal range.
The upward pressure on inflation last month was led by higher costs for gasoline, air transportation and restaurants, while the biggest downward forces came from cheaper prices for digital equipment, travel tours and natural gas.
PEI’s inflation rate matched the national rate at 2.2 per cent.