Inflation falls in July

Consumer price index eases to 2.7% for July.
Inflation eased in July as increases in the price of gasoline slowed.
The consumer price index for June was 3.1%.
Energy prices were the main driver of the increase in prices, gaining 12.9% compared with a year ago, however that was down from a 15.7% increase in June.
Gas prices were up 23.5% compared with a year ago, which
compared with a 28.5% increase in June.
Food prices were up 4.3%, matching their increase in June.
Excluding food and energy prices the consumer price index increased at a pace of 1.2% for July, compared with a 1.4% increase for June.
The core index, which is used by the Bank of Canada to help guide its decision on interest rates, gained 1.6% following a 1.3% gain in June.