Economics
Inflation in Canada Tops Early Pandemic Levels on Shelter Costs
- November’s annual rate of 1% is highest since February
- But central bank won’t likely be concerned by acceleration
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Price pressures in Canada accelerated past pandemic levels for the first time, led by rising shelter costs.
Annual inflation accelerated to 1% in November, compared with 0.7% in October, Statistics Canada reported Wednesday in Ottawa. Economists had expected 0.8%, the median forecast in a Bloomberg survey.