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2025-12-15 21:37:48
[Canada's November Inflation Rate Remains Unchanged at 2.2%, Below Expectations] ⑴ Canada's Consumer Price Index (CPI) rose 2.2% year-over-year in November, unchanged from October, but below market expectations of 2.3%. ⑵ The CPI rose 0.1% month-over-month in November, unchanged from the previous month. ⑶ The Bank of Canada's core CPI rose 2.9% year-over-year, unchanged from the previous month; it fell 0.1% month-over-month, compared to a 0.6% increase previously. ⑷ The core CPI rose 0.2% month-over-month, compared to a 0.3% increase previously. ⑸ The median CPI rose 2.8% year-over-year, below the expected 2.9%; the cut-off mean rose 2.8% year-over-year, below the expected 2.9%; the consumer staples index rose 2.8% year-over-year, compared to 2.7% previously. ⑹ The CPI excluding gasoline rose 2.6% year-over-year, unchanged from the previous month. ⑺ Statistics Canada stated that declining tour and accommodation costs, coupled with slower rent growth, put downward pressure on the overall CPI. (8) On a year-on-year basis, the slowdown in service price growth was partially offset by rising commodity prices, driven by increases in grocery prices and a narrowing decline in gasoline prices. (9) For residents, grocery prices rose 4.7% year-on-year, higher than October's 3.4%, marking the highest increase since December 2023 and posing significant downward pressure. (10) Fresh fruit was the main driver of the price increases, while leading categories included frozen beans (up 17.7% year-on-year) and coffee (up 27.8% year-on-year).
