Canada's annual inflation rate accelerated more than expected to 2.0 per cent 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.
Canada's annual inflation rate accelerated more than expected to two per cent in October as gas prices fell less than the previous month, data showed on Tuesday, shrinking market bets for a bigger rate cut next month.
This was the last inflation data to be released ahead of the Bank of Canada's interest rate announcement on Dec. 11, and currency markets now see around a 28 per cent chance of a 50 basis point rate cut, down from 37 per cent before the CPI data release. Services price inflation decelerated to 3.6 per cent, the slowest annual pace since January 2022, while goods prices rose by 0.1 per cent after a one per cent decline in September.Canada's annual inflation rate accelerated more than expected to 2.0 per cent 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.Toddler dies from drug toxicity in Niagara Falls, Ont.
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It's been a little over two months since corner stores around the province began stocking booze on their shelves and the chair of the Ontario Convenience Store Association says the new alcoholic offerings have been a lifeline for many businesses in the province.Canada's annual inflation rate accelerated more than expected to 2.0 per cent 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.
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