Canada’s annual inflation rate rises in December: Statscan

Prices rose for seven of the eight categories compared to last year

January 20, 2017
The Canadian Press
The Canadian Press

OTTAWA—Statistics Canada says the consumer price index in December was up 1.5 percent from where it was a year ago, a higher rate of inflation compared with November’s increase of 1.2 percent.

Economists had expected a bigger increase of 1.7 percent year-over-year in December.

Prices were up for seven of the eight major categories compared with a year earlier, with food being the one exception.

The transportation index was up 3.0 percent in December compared with a year ago, while the shelter index rose 2.1 percent.

In contrast, Statistics Canada says the price of food fell on a year-over-year basis for the third consecutive month. Prices for food in December fell 1.3 per cent compared with a year ago.

Statistics Canada says the pace of inflation increased in six provinces in December compared with November.