CANADIAN INFLATION RATE FALLS TO LOWEST LEVEL IN ALMOST ONE YEAR

Jan 17, 2023

By Bob Komsic

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The country’s inflation rate fell from 6.8% in November to 6.3% in December.
While Canadians enjoyed pump prices that were 13.1% lower last month, the cost of essentially everything else was higher.
Grocery prices rose just 0.3% in December, and increased 11% year-over-year.
That’s down from 11.4% in November, but a lot of food items are still more expensive; especially fresh vegetables, that have gone up by 13.6% in the last year.

 

Economists expect the Bank of Canada will likely raise its key rate by 0.25% next week before pausing for the rest of 2023.
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