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Canada inflation stable in August, prices up 0.1%

Canadian restaurant prices went up in August 2020, as owners pass on the costs of Covid-19 safety measures to customers - Eric THOMAS / ©AFP
Canadian restaurant prices went up in August 2020, as owners pass on the costs of Covid-19 safety measures to customers - Eric THOMAS / ©AFP

(AFP)

Canadians paid only 0.1 percent more overall for goods and services in August than a year earlier, government data showed Wednesday, despite a few price hikes linked to coronavirus prevention efforts.

“‘Tis the season for weak inflation,” commented CIBC analyst Royce Mendes. “For a second month in a row, Canadian inflation undershot expectations.”

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Low gasoline prices continued to be a drag on the Consumer Price Index, according to Statistics Canada.

Airfares were also down as airlines continued to offer deep discounts to encourage wary travellers to return to the skies. 

So too were prices of accommodations, telephone services and tuition fees.

Rents and prices for restaurant meals, meanwhile, rose in August.

Canadians finally getting their hair cut and styled after months of isolation at home cost more as barbers and hairdressers passed along the costs of Covid-19 safety measures to consumers.

Jewelry prices also rose, as a result of record high gold prices.

Car and truck prices increased as well, but not as much as in the neighboring United States and at a slower pace than the previous month as dealerships offered big rebates to entice buyers, Statistics Canada said.

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