So much for those inflation fears?

Canada's inflation rate at a 56-year low

Those billions of dollars in stimulus funds had a lot of people worried Canadians would end up paying for them through inflation. So far, though, that hasn’t been the case. In fact, according to figures released Wednesday, Canada’s inflation rate in July was at its lowest level in 56 years. Analysts say prices fell by 0.9 per cent last month, largely because of a massive 23.4 per cent drop in energy prices. It’s the steepest decline in prices since July 1953, when prices fell 1.4 per cent.