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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Canada’s inflation eases to 2.9% in January
Data from Statistics Canada has revealed that the country’s annual inflation rate has slowed to 2.9% in January, compared to the same month last year. This marks a decrease in the pace of inflation since the Consumer Price Index (CPI) showed a 3.4% inflation rate in December 2023. The deceleration to 2.9% marks the first time since June 2023 that Canada’s inflation rate has fallen within the Bank of Canada’s inflation-control target range of on…
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Leaning Left18Leaning Right7Center11Last UpdatedBias Distribution50% Left
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50% Left
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C 31%
R 19%
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