People make their way around the Rideau Center shopping centre on Boxing Day in Ottawa, on Monday, Dec. 26, 2022. Statistics Canada will release its inflation report for December this morning. The federal agency's consumer price index report will provide insight on how quickly prices rose last month as Canada continues to struggle with decades-high inflation.THE CANADIAN PRESS/Spencer Colby
OTTAWA – Statistics Canada will release its inflation report for December this morning.
The federal agency’s consumer price index report will provide insight on how quickly prices rose last month as Canada continues to struggle with decades-high inflation.
In November, the inflation rate was 6.8 per cent.
RBC expects the inflation rate eased to 6.4 per cent last month, continuing to trend downward after peaking at 8.1 per cent in the summer.
The latest inflation report comes about a week ahead of the Bank of Canada’s next interest rate decision.
The Bank of Canada has signalled a willingness to press pause on its aggressive rate hiking cycle depending on how economic conditions evolve, but many economists are banking on another rate hike next week.
This report by The Canadian Press was first published Jan. 17, 2023.
