Canadian inflation 'going nowhere fast'
OTTAWA -- Consumer prices in May were up 1.4% from a year earlier, mainly on higher energy prices, Statistics Canada said Tuesday.
"Overall, energy prices rose 6.2% between May 2009 and May 2010, following a 9.8% increase during the 12-month period to April," the federal agency said.
The core inflation rate, which strips out volatile items such as energy and certain foods, advanced at an annual rate of 1.8%.
Economists were expecting an overall inflation rate of 1.3% for May, and a core level of 1.7%. April's inflation rate came in at 1.8% and core inflation was 1.9%.