Tag Archives: Inflation rate

Canadian Inflation Rises 3.4% in December—How Will the Bank of Canada Respond?

Canadian Inflation Rises

Statistics Canada announced that the country’s inflation rate in December ticked up to 3.4%, which is up from 3.1% in November. The increase was fueled due to gas prices and higher prices at grocery stores. Grocery prices held pat at 4.7% while prices at restaurants have risen by 5.6% over the last year. Housing prices […]

Canada’s Inflation Slows to 3.1% in October—Will This Shut the Door on Additional Rate Hikes?

Canada’s Inflation Slows to 3.1% in October

Statistics Canada announced that Canada’s inflation rate slowed to 3.1% in October, that’s down significantly from the 3.8% reading in September. There is a caveat to that drop in inflation, however. The big deceleration was mainly a result of lower gas prices, which were down 6.4% over September and down 7.8% from where gas prices […]

Inflation Is in the Bank of Canada’s Target Range at 2.8%

Bank of Canada Interest rates

Canada’s inflation rate has been declining at a steady pace over the last year, from 8.1% in June 2022 to 2.8% in June 2023. That’s the lowest level since early 2021. And at 2.8%, Canada’s inflation rate has fallen within the Bank of Canada’s target range of 1% to 3% percent. Despite the big drop […]