Statistics
Canada announced on Tuesday the country’s consumer price index (CPI) was unchanged m-o-m in November,
following an unrevised 0.4 per cent m-o-m jump in the previous month.
On a y-o-y
basis, Canada’s inflation rate increased by 1.9 per cent last month, easing
slightly from an unrevised 2.0 per cent in October.
Economists had anticipated
inflation would inch up 0.1 per cent m-o-m and climb 2.0 per cent y-o-y in November.
According to
the report, prices for travel tours and the mortgage interest cost index
contributed the most to the November deceleration in the headline annual
inflation.
Meanwhile, the
monthly flat performance reflected increases in 4 of all 8 major items, led by food (+0.5 per cent m-o-m) that were offset by declines in other
4 items, driven by household operations, furnishings and equipment (-0.9 per
cent m-o-m), and clothing and footwear (-0.8 per cent m-o-m),
The trimmed-mean
CPI - the preferred measure of core inflation of the Bank of Canada (BoC) - remained
unchanged at 2.7 per cent y-o-y in November. Economists
had predicted a surge of 2.5 per cent y-o-y.