Statistics Canada says the annual pace of inflation slowed in December.
The agency says the consumer price index was up 0.7 per cent compared with a year earlier. That compares with a year-over-year increase of one per cent in November.
Get weekly money news
READ MORE: Pandemic housing boom means affordability is no longer just a big-city problem
Prices rose in six of the eight major components on a year-over-year basis in December.
Excluding gasoline, the annual pace of inflation in December was one per cent compared 1.3 per cent in November.
- IBC estimates $230M in insured damage claimed from Edmonton storms
- Alberta First Nation sues Ottawa over $5 treaty annuity, argues amount stuck in 1899
- Jobs hang in the balance as Ekati diamond mine in N.W.T. closing early
- WestJet flight attendants hold information pickets as strike vote takes place
The average of Canada’s three measures for core inflation, which are considered better gauges of underlying price pressures and closely tracked by the Bank of Canada, was 1.57 per cent for December, down from 1.67 per cent in November.
Comments
Want to discuss? Please read our Commenting Policy first.