High Fuel Prices Help Push Canada’s Inflation Rate to 1.5% in December

Jan 20, 2017

Statistics Canada said Friday the consumer price index in December was up 1.5 per cent from where it was a year ago, a higher rate of inflation compared with November’s increase of 1.2 per cent.

Economists had expected a bigger increase of 1.7 per cent 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 per cent in December compared with a year ago, while the shelter index rose 2.1 per cent.

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.

Source: http://globalnews.ca/news/3194159/canada-inflation-rate/