Canada’s annual inflation rate cooled to 2.8 per cent in February, helped by slower growth in the cost of cellular services, groceries and internet access services, Statistics Canada said Tuesday. Economists had largely expected the rate to rise to 3.1 per cent and undo some of the year’s early progress. Rent and mortgage interest costs continued to be primary … Read more
Canada’s annual inflation rate jumped to 3.4 per cent in December, according to data released by Statistics Canada on Tuesday. That’s after both October and November saw inflation hold steady at 3.1 per cent compared to the previous year. StatsCan said that the price of gasoline, air travel, passenger vehicles and rent drove the figure higher in December. Food … Read more
Canada’s economy was essentially unchanged for the third consecutive month in October, missing growth forecasts, but gross domestic product likely edged up in November, Statistics Canada data showed on Friday. Analysts polled by Reuters had forecast a 0.2 per cent month-over-month rise. September’s GDP was downwardly revised to zero growth from an initial report of … Read more
The Bank of Canada’s governing council agreed the odds of another rate hike have decreased during its discussions ahead of the interest rate decision earlier this month. The central bank released its summary of deliberations for its Dec. 6 interest rate decision Tuesday, revealing the governing council felt more optimistic about the country’s inflation outlook. … Read more
Canada’s annual inflation rate held steady at 3.1 per cent in November, matching the previous month’s rate, according to data released by Statistics Canada on Tuesday. Economists were expecting the rate to fall below the three per cent threshold, putting the economy closer to the Bank of Canada’s two per cent inflation goal. Mortgage interest costs and the high cost … Read more
