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Inflation in Canada Eases to 1.8% on Sales Tax Break

  • Canada's annual inflation rate decreased to 1.8% in December, aided by a temporary GST tax break, according to Statistics Canada.
  • Without the tax break, inflation would have risen to 2.3%, driven by higher accommodation costs in British Columbia.
  • Economists expect the Bank of Canada to consider interest rate cuts, with a significant focus on potential tariffs from the U.S.
  • The report indicates that prices for alcohol and restaurant food fell, contributing to the easing of inflation, as noted by the Canadian Press.
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Winnipeg Free Press broke the news in Winnipeg, Canada on Tuesday, January 21, 2025.
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