Lower gas prices slow inflation rate

Prices in Canada are going up at the slowest rate in almost two years.

Statistics Canada says last month’s inflation rate fell almost a full point to 1.2 percent; and prices overall were actually lower than they were in April.

The main reason is lower gas prices, which were 2.3% cheaper.

It’s the first time energy prices have gone down since October of ’09.

Alberta continues to have the lowest price increases in the country; costs went up only 0.4% in the province.