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Canada's annual inflation rate rose to 2.9% in May, mainly due to higher service and grocery prices.
Canada's annual inflation rate edged up to 2.9% in May from 2.7% the previous month, according to Statistics Canada.
The increase was mainly due to higher prices for services, including cellular services, rent, travel tours, and air transportation.
Grocery prices also saw a slight increase to 1.5% year-over-year.
The Bank of Canada is closely monitoring inflation data to inform its interest rate decisions.
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La tasa de inflación anual de Canadá aumentó al 2,9% en mayo, debido principalmente al aumento de los precios de los servicios y los comestibles.