Canada’s inflation rate fell to 1.8 per cent in December, with the federal government’s GST holiday contributing to a price decline across several categories, Statistics Canada said Tuesday.
Food, drinks bought from restaurants contributed most to the decline
Jenna Benchetrit · CBC News ·
A customer shops at a grocery store in Sharon, Ont., on Nov. 21, 2024. Canada’s inflation rate fell to 1.8 per cent in December, Statistics Canada said Tuesday. (Chris Young/The Canadian Press)
Canada’s inflation rate fell to 1.8 per cent in December, with the federal government’s GST holiday contributing to a price decline across several categories, Statistics Canada said Tuesday.
Food and drinks bought from restaurants contributed most to the decline that month, with prices dropping 1.6 per cent.
Housing prices still rose in December by 4.5 per cent, but at a slightly slower pace than the previous month’s 4.6 per cent rate. Gas prices rose 3.5 per cent, due to what’s referred to as a base-year effect.
More to come.
ABOUT THE AUTHOR
Jenna Benchetrit is the senior business writer for CBC News. She writes stories about Canadian economic and consumer issues, and has also recently covered U.S. politics. A Montrealer based in Toronto, Jenna holds a master’s degree in journalism from Toronto Metropolitan University. You can reach her at jenna.benchetrit@cbc.ca.
