Inflation & Prices
Sticky Core Inflation Keeps Up Pressure for Rate Hikes in Canada
- Annual consumer price gains slow to 6.8%, exceeding estimates
- Citi sees more moves from central bank in January and March
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Canada’s inflation rate decelerated in November but key gauges of underlying price pressures trended higher, potentially dashing hopes for a pause in interest-rate increases.
The consumer price index rose 6.8% from a year ago, higher than economist expectations of 6.7% and down from 6.9% in October, Statistics Canada reported Wednesday in Ottawa. On a monthly basis, the index gained 0.1% in November, exceeding forecasts for no change.