![](https://s3.amazonaws.com/socast-superdesk/media/2022092015090/c2f8dc9f-76d6-4867-aba8-ae9b12296d71.jpg)
Inflation across Canada down for second consecutive month
The year-over-year inflation rate was recorded by Statistics Canada at 7.0 per cent in August, marking the second consecutive month inflation in the country has slowed on an annual basis.
Statistics Canada says declining gas prices have largely driven the slowdown. Gas prices were down 9.6 per cent from July, but are still up 22.1 per cent compared to this time last year. Saskatchewan and Alberta saw the largest gas price decreases in the country.
Excluding gasoline prices, year-over-year inflation was recorded at 6.3 per cent, making August the first month since June 2021 where annual inflation has slowed.
The good news was offset by the higher food bills Canadians continue to pay.