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Canada’s inflation rate cools to 7% in August

Inflation slowed down in Canada for a second straight month in August.

Statistics Canada says the year-over-year rate dropped to 7.0 percent last month, down from 7.6 percent in July.

Lower gas prices were cited as one of the main reasons why.

In June, inflation had soared to a 39-year high of 8.1 percent.

with files from Vista Radio newswire

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