Canadian consumer inflation stable in June at 1.5%

Ottawa / AFP

Largely driven by housing, Canadian consumer prices rose 1.5 percent in June over a year ago, the same rate recorded in May, the Canadian government reported
on Saturday.
The pace fell short of analyst forecasts, which had predicted a rise in the consumer price index of 1.7 percent.
Housing prices were up 1.6 percent after rising 1.4 percent in May, according to Statistics Canada, the government agency for social and economic metrics.
Growth in food prices continued to slow, rising 1.3 percent, compared to 1.8 percent in May. Fresh and frozen beef recorded the first price drop since August 2010, shrinking 3.3 percent in June.