UPDATE 1-Canada May annual inflation rate at 1.6 pct

Newswire

OTTAWA, June 24 (Reuters) - Canada's annual inflation rate in May was 1.6 percent compared with 2.4 percent in April, Statistics Canada said on Friday, due mainly to lower gasoline prices. Analysts had forecast, on average, an annual inflation rate of 1.8 percent in May. "Gasoline prices were the primary reason for the substantial decrease in the 12-month change in the All-items index between April and May," Statscan said in its daily briefing. The 12-month change in gasoline prices ...

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