Canada's annual inflation rate accelerated more than expected to 2.0 per cent in October as gas prices fell less than the previous month, data showed on Tuesday, likely diluting chances of another large rate cut in December.
Canada's annual inflation rate accelerated more than expected to 2.0 per cent in October as gas prices fell less than the previous month, data showed on Tuesday, likely diluting chances of another large rate cut in December.
This was last inflation data to be released ahead of the Bank of Canada's interest rate announcement on Dec. 11, when money markets see a roughly 60 per cent chance of at least a 25 basis point cut. Services price inflation rate decelerated to 3.6 per cent, the slowest annual pace since January 2022, while goods prices rose by 0.1 per cent after a one per cent decline in September.Canada's annual inflation rate accelerated more than expected to 2.0 per cent in October as gas prices fell less than the previous month, data showed on Tuesday, likely diluting chances of another large rate cut in December.
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