Statistics Canada Reports Drop in Inflation

Tuesday, 17 January 2023 10:46

By Linda Morgan

Decrease fueled by 13.1 percent drop in gas prices

Canada's annual inflation rate slowed down last month but grocery prices remain high.

According to Statistics Canada, the inflation rate dropped to 6.3 percent last month.

This is due in large part to lower gas prices.

However, grocery prices were up 11 percent on an annual basis.

There were also increases in mortgage interest costs, clothing, and other personal care supplies.

The agency says the average inflation rate last year was 6.8 percent.

More from Local News

Province Investing Against Invasive Species

The $2-million will help the Niagara region
Niagara Driver Charged with Drug Impairment

OPP say this happened on Highway 17, when a car was seen weaving all over the road
Welland Man Arrested for Child Porn

Police say they noticed child sexual abuse material shared on a social media page early this month
28 More Doctors Hired in Niagara

The region and Niagara Health coordinating new partnership to find even more doctors
Killed Police Officers Honoured by NRP

Police Chief praised Niagara members for standing at attention in 'pounding rain'
Niagara Wineries Shuttle Service Possible

The CUTRIC hopes the province supports helping people move among wineries
Canal Days Vendors Warned of Scams

The City of Port Colborne says criminals are sending fraud emails for payment
Niagara Falls Exploring Hub to Help Homeless

Former CAO Ken Todd has been meeting with community groups