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CA Consumer Price Index, December 2024
The Consumer Price Index (CPI) rose 1.8% on a year-over-year basis in December, down from a 1.9% increase in November. Food purchased from restaurants and alcoholic beverages purchased from stores contributed the most to the deceleration. The CPI excluding food rose 2.1% in December. A temporary GST/HST break on certain goods was introduced on December 14, 2024. The major components impacted by the tax break were food; alcoholic beverages, tobacco products, and recreational cannabis; recreation, education, and reading; and clothing and footwear. On a monthly basis, the CPI declined 0.4% in December, following a flat ... (full story)
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Canada's annual inflation rate drops to 1.8% in December on sales tax relief
Consumer prices in Canada continued to climb up at a soft pace in December, data showed on Tuesday, helped by a sales tax break which kicked off from the mid of the month and brought down prices of alcohol, restaurant foods and children's clothing. Annual inflation rate dropped to 1.8%, Statistics Canada said, a slightly lower than expected and a tick below prior month's 1.9%. On a month-on-month basis the consumer price index contracted by 0.4%. On a annual basis, prices for alcoholic beverages purchased from stores declined 1.3% in December, compared with a 1.9% increase in November, and food purchased at ... (full story)