BREAKING: Canada’s inflation rate tumbled to 2.9% in January [Video]

Canada’s annual inflation rate fell to 2.9 per cent last month, marking a sharper deceleration in price growth than expected by forecasters.

Statistics Canada’s consumer price index report released Tuesday says the largest contributor to the decline was lower gasoline prices on a year-over-year basis.

The annual inflation rate was 3.4 per cent in December.

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