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BC's inflation rate stayed static in August at 0.2%

BY The Canadian Press, Sep 16, 2020 12:23 PM - REPORT AN ERROR

Lower prices for gas and air travel helped push the cost of living down last month, keeping inflation pegged at 0.1 per cent across Canada in August, the same as July. BC's rate also stayed static in August at 0.2%, identical to the July setting.

The cost of living in Victoria edged down to 0.1 per cent in August from 0.3 % in July but inflation in Vancouver remained in negative territory at -0.2 up from -0.3 per cent the month earlier.

Sluggish inflation means the Bank of Canada will hold its interest rate at 0.25% the lowest possible, in hopes people will borrow and spend, propelling the cost of living back up to the bank's preferred two per cent target.

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