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Canada inflation rate drops to 3.40% in May from 4.4% in April of 2023. The figure meets consensus.
The CPI increased 0.40% in May of 2023 over the previous month.
Canadian annual core inflation, which excludes food and energy costs, eased to a 1-1/2-year low of 3.7% in May 2023, down from 4.1% in April and below market forecasts of 3.9%