Inflation & Prices
Canadian Inflation Slows to 6.3%, Opening Door to Rate Pause
- Bank of Canada’s favored core measures also ease back
- Macklem expected to deliver 25-basis-point hike next week
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Inflation and the Bank of Canada’s favored measures of underlying price pressures are cooling, suggesting that an expected increase to interest rates next week may be the last one for a while.
The consumer price index rose 6.3% from a year ago, Statistics Canada reported Tuesday in Ottawa, slower than the 6.4% gain expected in a Bloomberg survey of economists and down from 6.8% in November. On a monthly basis, the index fell 0.6% in December, the biggest drop since April 2020.