Inflation Update

Increases to food costs, rental costs, and mortgage interest are key drivers contributing to the minimal change to inflation numbers from the previous two months.

Although we’re seeing a decline, it’s much slower than presumed, despite the aggressive rate hikes we’ve seen over the last 12 months.

This means there is a possibility of another small rate hike in January. However, the noticeable decline in gasoline prices during the first three weeks of December may help direct us towards lower inflation numbers for December, which will influence the BoC’s decision.