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Published 2 months ago

Canada's inflation rate fell to 2.9% in January

  • Canada's inflation rate dropped more than expected, with gasoline, airfare, and clothing prices decreasing.
  • Statistics Canada reported a decrease in the annual inflation rate to 2.9% in January from 3.4% in December, with gas prices contributing to the decline.
  • The Bank of Canada sees positive signs as price pressures ease, and core inflation measures fall, showing a potential for interest rate cuts.
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