Annual inflation rate increased to 3.4% in December: Statistics Canada
Food prices held steady
Canada’s annual inflation rate rose 3.4% in December, largely driven by higher gasoline prices.
The increase comes as the country’s inflation rate held steady at 3.1% in October and November.
Statistics Canada released the latest figures today (Jan. 16). Gasoline prices increased 1.4% in December after falling 7.7% in November.
Food prices increased 4.7% in December, matching the increase in November.
Meat prices increased 5.5%, while fish prices declined 1.3%. Dairy products and eggs rose 3.4% and bakery and cereal products (excluding baby food) were up 5.1%.
Prices for fresh fruit increased 3.3% and fresh vegetables rose 0.5%. Other food products and non-alcoholic beverages were up 6.2%.
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