US EditionInflation 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
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
Canada’s Annual Inflation Rate Drops to 1.8% in December on Sales Tax Relief
OTTAWA—Canada’s annual inflation rate slowed in December, data showed on Tuesday, helped by a sales tax break which kicked off in the middle of the month and brought down prices of alcohol, restaurant foods and children’s clothing. The annual inflation rate dropped to 1.8 percent, Statistics Canada said, slightly lower than expected and a tick below the prior month’s 1.9 percent. On a month-on-month basis the consumer price index contracted by 0…
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