Canada’s inflation rate cooled to 6.8% in November

By Pete Evans
CBC News
December 21, 2022
Category: Finance & Economics
Region: Canada

Canada’s inflation rate cooled to 6.8 per cent last month as prices for gasoline and furniture went down, but the cost of food and rent went up. Statistics Canada reported Wednesday that gasoline prices across the country fell by 3.6 per cent during the month. They’re still up by 13.7 per cent compared to where they were a year ago, but that’s down from the 17.8 per cent annual increase clocked the month before. The price of a fill-up may be inching down from record highs, but the cost to fill up a belly continues to increase at an astonishing pace. Grocery bills increased at an 11.4 per cent annual pace last month, up from the 11 per cent increase seen in October. …The cost to keep a roof over one’s head is also increasing at a rapid clip, with overall shelter costs up 7.2 per cent in the past year.

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