Inflation slows in Nov: BoC
OTTAWA: Canada's annual inflation rate slowed more than expected in November, pointing to the likelihood the Bank of Canada (BoC) will hold off raising interest rates until the fragile economy begins to show signs of a sustained recovery.
Consumer prices edged up two per cent last month from a year earlier as energy and food costs rose at a slower pace, Statistics Canada said Tuesday. That compares to a 2.4 per cent jump in October, the biggest annual increase since October 2008. Statistics Canada said Manitoba's annual rate dipped to 1.1 per cent from 1.2 per cent in October. Other items that also cost less than a year ago were repairs for home entertainment equipment (down 7.2 per cent), men's clothing (down 5.4 per cent) and women's clothing (3.1 per cent lower). The declines offset higher prices on items such as property taxes (up 8.2pc) and cigarettes (7.8pc higher). -PB News