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flag Canada's annual inflation rate rose to 2.9% in May, mainly due to higher service and grocery prices.

flag Canada's annual inflation rate edged up to 2.9% in May from 2.7% the previous month, according to Statistics Canada. flag The increase was mainly due to higher prices for services, including cellular services, rent, travel tours, and air transportation. flag Grocery prices also saw a slight increase to 1.5% year-over-year. flag The Bank of Canada is closely monitoring inflation data to inform its interest rate decisions.

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