“The Consumer Price Index (CPI) rose 2.0% on a year-over-year basis in December, following a 1.7% increase in November,” Statistics Canada reported on Friday.
Key takeaways from the press release
- Lower energy prices were offset by higher prices for various services, including air transportation, telephone services and travel tours.
- Excluding gasoline, the CPI rose 2.5% in December.
- On a seasonally adjusted monthly basis, the CPI rose 0.2% in December, following a 0.1% decline in November.
Meanwhile, the core CPI released by the Bank of Canada stayed unchanged at -0.2% on a monthly basis in December to lift the annual change to 1.7% from 1.5% in November.
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