Inflation grew at a rate of 6.6 per cent on West Coast compared with 6.3 per cent nationally in December
Inflation cooled for a second month in a row in B.C., rising at a rate of 6.6 per cent annually in December compared with 7.3 per cent in November.
But Tuesday’s data from Statistics Canada also reveals December marked the sixth straight month in which the rate of inflation outpaced the national rate, which tallied in at 6.3 per cent. There was also a tiny bit of relief on the grocery aisles, with prices rising at a rate of 11 per cent in December compared with 11.4 per cent in November.
TD Bank economist Rishi Sondhi said in a note in December that B.C. and Ontario can expect inflation to be “more persistent” in 2023 as they continue to deal with high housing costs even as the price of homes take a hit.
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