Canada's annual inflation rate slowed to 6.3 per cent in December, grocery prices stayed high
CTV
Canada's annual inflation rate slowed to 6.3 per cent in December as the cost of groceries remained high and gas prices cooled.
Canada's annual inflation rate slowed to 6.3 per cent in December as the cost of groceries remained high and gas prices cooled.
In its latest consumer price index released Tuesday, Statistics Canada said Canadians continued to see prices soar at grocery stores last month compared with a year ago.
Grocery prices were up 11 per cent on an annual basis, a slight improvement from 11.4 per cent in November, the federal agency said.
The country's annual inflation rate peaked in the summer at 8.1 per cent and has been slowly decelerating since. In November, the annual inflation rate was 6.8 per cent.
Meanwhile, Canadians saw some relief at the pump last month, paying 13.1 per cent less compared with November. Statistics Canada said the price of crude oil dropped amid concerns of a slowing global economy.
Excluding food and energy, prices rose 5.3 per cent in December on an annual basis.
December's deceleration was also offset by increases in mortgage interest costs, clothing and footwear, and personal care supplies and equipment.
