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.
87 Articles
87 Articles
Inflation rate decreases last month
The inflation rate was down in December to 1.8 percent, a drop from 1.9 percent in November. The primary reason for the decrease was food purchased from restaurants and alcoholic beverages purchased from stores. Last month, Canadians paid less for food purchased from restaurants and the price for alcoholic beverages purchased from stores declined. Prices for toys, games and hobby supplies decreased. In addition, the children’s clothing index fel…
Canada inflation dipped in December to 1.8%
Ottawa, Canada — Canadian inflation fell 0.1 percentage points to 1.8 percent in December as a brief sales tax holiday on selected consumer goods kicked off, the government statistical agency said Tuesday. Canadians paid less in the month as a result of the Goods and Services Tax break for alcohol, food, clothing, shoes, toys and
The Toronto Star
As inflation ticks lower to 1.8% in December, economists expect further BoC rate cuts
Some economists are predicting the headline inflation number could be as low as 1.5 per cent thanks to the federal government's GST tax holiday.
Coverage Details
Bias Distribution
- 59% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
