Canada’s annual inflation rate slowed to 6.3 per cent in December as the cost of groceries remained high and gas prices cooled.
Excluding food and energy, prices rose 5.3 per cent in December on an annual basis.
“While the direction of inflation is at least mildly encouraging, there’s nothing in this report to keep the Bank of Canada from hiking rates another 25 at next week’s policy meeting,” Reitzes said.
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