Canada's Inflation Rate Slows in May, Reducing Pressure on Central Bank

Canada's annual inflation rate slowed to 3.4% in May due to lower gasoline prices.
Mortgage interest costs remain high according to the reports.
The slowdown was in line with analyst expectations.
The Bank of Canada may raise interest rates just one more time, indicating a peak of 5%.
Slower price increases could allow the Bank of Canada flexibility in deciding if or when to hike rates again.