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OTTAWA, Nov 19 - Canada's annual inflation rate accelerated more than expected to 2.0% in October as gas prices fell less than the previous month, data showed on Tuesday, likely diluting chances of another large rate cut in December.
While it was the first pick up in the annual inflation rate since May, the rise was broadly in line with central bank forecast for it rise back to its 2% after lower energy prices fueled a quicker than expected slowdown in headline inflation in recent months. The bank has lower its policy rate by 125 basis points over its last four policy setting meetings, including a 50 bp cut in October, when Governor Tiff Macklem said there would be further easing if the economy evolved roughly in line with forecasts.
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