Canada: Inflation ticks down in December
Seasonally-adjusted consumer prices rose 0.2% from a month earlier in December, easing from November’s 0.5% rise. According to Statistics Canada, December’s deceleration was primarily due to a slower rise in transport prices. Meanwhile, food and shelter prices rose at a similar pace to November while household-related prices fell sharply in the month.
Inflation came in at 1.9%, down from November’s 2.1% but still comfortably within the Bank of Canada’s target range of 2.0% plus/minus 1.0 percentage point. Meanwhile, annual average inflation was stable from a month earlier, rounding out the year at 1.6%. Core inflation, which excludes volatile items including fuels and fresh produce, dipped from 1.3% to 1.2%.