StatCan set to release November inflation figures today

By The Canadian Press on December 17, 2024.

OTTAWA – Statistics Canada is expected to release its November consumer price index report this morning.

Economists polled by Reuters expect the annual inflation rate stayed at two per cent last month, according to LSEG Data & Analytics.

The annual inflation rate ticked up in October to two per cent after falling below the Bank of Canada’s target in September for the first time in more than three years.

The central bank cut its key interest rate by half a percentage point this month as inflation has continued to moderate and worries about the economy persist.

Governor Tiff Macklem has said that bank anticipates a more gradual approach to monetary policy if the economy evolves broadly as expected.

Inflation in October saw grocery price growth accelerate, while rent price growth was slower than the month before.

This report by The Canadian Press was first published Dec. 17, 2024.