Economics
Canadian Consumer Price Inflation Hits 4.8%, Highest Since 1991
- December report adds pressure on policymakers to raise rates
- BoC survey show economy running hot with labor shortages
A pedestrian walks past a Victoria's Secret store in Montreal on Jan. 9, 2022.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
Canadian consumer price inflation accelerated to the fastest level in three decades in December, adding pressure on the Bank of Canada to quickly start raising interest rates.
Annual inflation was 4.8% last month, Statistics Canada reported Wednesday in Ottawa, from 4.7% in November. The December number was in line with economists’ expectations.