Investing.com - The overall rate of inflation in Canada held steady in May, Statistics Canada said on Friday.
The consumer price index rose 2.2% last month, compared with the same month a year earlier.
Prices rose by 0.1% from a month earlier.
Economists had expected annual inflation to increase by 2.5% and monthly inflation to rise by 0.4%.
Core inflation, which excludes gasoline, was up 1.3% from a year earlier and fell by 0.1% from the previous month.
The compared to forecasts for a 1.4% and 0.5%, respectively.
The Bank of Canada aims to keep inflation at 2%, the midpoint of a target range of 1% to 3% over the medium term.
The next policy decision is scheduled for July 11.
