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- Canada’s annual inflation unexpectedly decelerates in December
Canada’s annual inflation unexpectedly decelerates in December
Statistics Canada reported on Wednesday the country’s consumer price index (CPI) fell 0.2 percent m-o-m in December, following a 0.1 percent m-o-m gain in the previous month. This was the first decline since September.
On the y-o-y
basis, Canada’s inflation rate increased 0.7 percent last month after advancing
1.0 percent in November.
Economists had
predicted inflation would be flat m-o-m and increase 1.0 percent y-o-y in December.
According to the report, consumer price growth slowed on lower air transportation prices (-14.5 y-o-y) and reduced food price growth (+1.1 percent y-o-y).
Meanwhile, the closely watched the Bank of Canada's
core index rose 1.5 percent y-o-y in December, the same pace as in November.
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