Canada’s inflation rate remained steady at 3.1 per cent in November, according to Statistics Canada.
The agency says higher prices for travel tours helped put upward pressure on the Consumer Price Index.
While slower price growth for food, cellular services and fuel oil helped to offset the upward pressure.
Mortgage interest costs, food purchases from stores and rent were the largest contributors to the year-over-year increase in November.
Grocery price growth slowed on a year-over-year basis for the fifth consecutive month, however, the 4.7 per cent increase was still higher than overall inflation for the month.
Prices for non-alcoholic beverages, fresh vegetables and other food preparations contributed the most to the slowdown, according to StatCan.
In contrast, prices for meat, preserved vegetables and vegetable preparations, and sugar and confectionery increased at a faster pace year-over-year.
Year over year, prices increased in all provinces in November but rose at a slower pace compared with October in six provinces.
CPI rose by 3.6 per cent in Quebec, 3.3 per cent in Ontario, 3.2 per cent in British Columbia, 2.5 per cent in Nova Scotia and Alberta, 2.3 per cent in Saskatchewan, 2.1 per cent in Newfoundland and Labrador, 1.8 per cent in Manitoba, 1.7 per cent in New Brunswick, and 0.4 per cent in Prince Edward Island.
You can view the full report on Statistics Canada’s website.
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