Statistics Canada released inflation data on Tuesday that showed that inflation was at 2.0 percent in August, increasing at the slowest pace since February 2021, and down from a 2.5 percent gain in July.

Mortgage interest cost and rent remained the largest contributors to the increase.

Lower gasoline prices were partially responsible for the lower rate and Canadians are paying less for clothing and footwear.

Food from stores is up slightly to 2.4 percent, compared to 2. percent in July. Despite this, grocery prices decreased on a month-over-month basis in August, largely due to a seasonally typical decline in prices for fresh vegetables.