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Jan. '09 Inflation drops

January 24, 2009


OTTAWA–The increase in thecost of living in Toronto dropped sharply in December to 1.7 per cent, down from 2.3 the previous month, mostly led by falling gasoline prices.

Ontario's inflation rate fell to 1.5 per cent compared with 2.1 per cent in November.

Nationally, the cost of living hit its lowest level in two years last month as falling energy prices continued to drive annual inflation closer to zero.

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