The national and provincial inflation rates both fell in January

January’s inflation figures were released Tuesday by Statistics Canada, and PEI’s annual inflation rate in January was 1.6 per cent.  That’s down one percentage point from December’s 2.6 per cent, which is lowest among all the provinces and territories, except for Manitoba, which was lowest at 0.8 per cent. The national inflation rate dropped more than expected last month as prices fell for gasoline, airfares and clothing. The country’s annual inflation rate tumbled to 2.9 per cent in January, down from 3.4 per cent in December.