Canada's inflation rate fell to 2.9% in January

Inflation rate decreases

Last month inflation in Canada was at 2.9 per cent, a decrease from 3.4 per cent in December. The cost of food purchased from stores increased by 3.4 per cent, compared with December when prices increased 4.7 per cent. This resulted in downward pressure on the all-items. Grocery prices remain elevated. Lower prices for airfares and travel tours also contributed to the decline. Canadians paid more for cellular services last month compared with De…

Inflation drops to 2.9% in January

The lower than expected figure comes amid signs of stabilization in housing and grocery prices amid broader economic slowdown. The post Inflation drops to 2.9% in January appeared first on CANADIAN AFFAIRS.

'VERY PLEASANT SURPRISE': Canada’s inflation rate tumbled to 2.9% in January

Statistics Canada says the country's annual inflation rate fell to 2.9 per cent last month.

Inflation slowed to 2.9%, lower than expected

Canada's inflation rate dropped lower than expected in January — to 2.9 per cent from 3.4 per cent in December, but many consumers say they're still feeling financial pain.

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…

Inflation Drops to 2.9 Per Cent

A sharper drop in inflation in January is leading to further speculation that the Bank of Canada may consider dropping its interest rate sooner rather than later. Last month, Bank of Canada Governor Tiff Macklem wouldn’t say whether interest rate drops are in the offing, but did say they’re shifting their focus from further restrictions to how long current rates will stand. Inflation dropped to 2.9 percent in Canada in January, which is within…