Canada: Inflation stabilizes in November from October
Latest reading: Consumer prices were up 2.2% in annual terms in November, stable from the previous month’s reading. The November reading was below market expectations and within the Central Bank’s 1.0–3.0% inflation target range.
Relative to the previous month’s figures, there were higher price pressures for food (+4.3% in annual terms vs +3.6% in October) and clothing and footwear (+1.1% vs +0.3% in October). In contrast, there were milder price pressures for housing (+2.3% vs +2.5% in October), transportation (+0.5% vs +0.9% in October) and recreation and culture (+0.4% vs +2.0% in October).
Meanwhile, core consumer prices rose 2.9% in annual terms in November, stable from the prior month’s reading.
Lastly, consumer prices increased 0.06% in November on a month-on-month basis, following a 0.24% rise in the prior month.