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 says the country’s annual inflation rate slowed to 6.3 per cent in December.
The federal agency’s latest consumer price index released today says inflation slowed last month largely due to a deceleration in gas prices.
That deceleration was offset by increases in mortgage interest costs, clothing and footwear and personal care supplies and equipment.
In November, the annual inflation rate was 6.8 per cent.
Grocery prices continued to soar in December, but at a slightly slower pace, with prices up 11 per cent compared with a year ago.
Statistics Canada says the average inflation rate for 2022 was 6.8 per cent.
This report by The Canadian Press was first published Jan. 17, 2023.
