Statistics Canada to release November inflation rate amid soaring food prices – National | 24CA News

Statistics Canada is ready to launch its newest inflation studying Wednesday, giving perception on how briskly costs have been rising final month.

The nation’s annual inflation charge held regular at 6.9 per cent in September and October.

RBC is forecasting the annual inflation charge cooled to six.7 per cent in November.

Though inflation stays nicely above the Bank of Canada’s two per cent goal, economists have been inspired by a slowdown in worth development over the previous few months.

However, the price of groceries continues to climb quickly, with costs up 11 per cent in October in contrast with a 12 months in the past.

The Bank of Canada, which has signalled it might cease elevating rates of interest, shall be paying shut consideration to the newest shopper worth index report.