Canadian Consumer Price Index rose 3.1% in November

Statistics Canada
December 19, 2023
Category: Finance & Economics
Region: Canada

The Canadian Consumer Price Index (CPI) rose 3.1% on a year-over-year basis in November, matching the 3.1% increase in October. …Offsetting the upward pressure was slower price growth, on a year-over-year basis, for food alongside lower prices for cellular services and fuel oil. Excluding food and energy, the CPI increased 3.5% in November, following a 3.4% gain in October. Canadians continued to feel the impact of higher prices for mortgage interest costs (+29.8%) in November. …Today, Statistics Canada released the paper, “Shelter in the Canadian CPI: An overview, 2023 update.” This article describes the concepts and methodologies related to the construction of the shelter component and discusses considerations to be considered when using the estimates.

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