Annual inflation rate fell slightly to 6.8 per cent in November

OTTAWA –

Canada’s annual inflation charge fell barely to six.8 per cent in November.

That’s down from 6.9 per cent in October.

In Statistics Canada’s newest shopper value index report launched as we speak, the federal company says slower value development for gasoline and furnishings was offset by quickly rising shelter prices.

Grocery costs rose sooner in November on a yearly foundation, with costs up 11.4 per cent.

The Bank of Canada has raised rates of interest quickly this yr to chill decades-high inflation and sluggish spending within the economic system.

After elevating its key rate of interest for the seventh consecutive time in early December, the central financial institution signalled it is open to urgent pause on its aggressive charge hike cycle.