Canada: Inflation increases to 11-month high in November
December 18, 2015
In November, seasonally-adjusted consumer prices recorded a 0.2% increase, which matched the result tallied in October. According to Statistics Canada, five of the eight components of the index increased, with the transportation category registering the largest change.
Inflation was 1.4% in November after having come in at 1.0% in the previous two months. November’s result was just below the 1.5% expected by the markets but marked the highest print so far this year. Moreover, inflation is now within the Bank of Canada’s target range of 2.0% plus/minus 1.0 percentage point. Annual average inflation in November was 1.1%, down from 1.2% in October. Annual core inflation, which excludes volatile items such as gasoline and fresh food, decreased slightly from 2.1% in October to 2.0% in November.
Author: Robert Hill, Economist