In­fla­tion slows in Nov: BoC

The Pak Banker - - Company & Boss News -

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

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