Canada: Inflation in November falls below the Bank’s target for the first time in 10 months
Seasonally-adjusted consumer prices fell 0.2% from a month earlier in November, contrasting October’s 0.3% increase. According to Statistics Canada, the decline was driven by lower health and personal care and transport prices. Moreover, gasoline prices continued to sprawl down.
Inflation ticked down to 1.7% in November, from 2.4% in October slightly below market expectations and marked the first time in 10 months inflation was under the Bank’s target of 2.0%. Meanwhile, annual average inflation was unchanged in November from the previous month at 2.3%. Core inflation, which excludes volatile items including fuels and fresh produce, inched down to 1.5% from Octobers 1.6%.