Inflation slowed further in December as Canadian consumers got a tax break from the federal government.
Statistics Canada said Tuesday that the annual pace of inflation cooled to 1.8 per cent last month. That’s down from 1.9 per cent in November.
The December inflation figures capture part of Ottawa’s GST/HST “holiday,” which began Dec. 15.
StatCan said Tuesday that prices of food bought from restaurants and alcoholic beverages — two of the categories excluded from federal tax for two months — saw a major deceleration in the annual and monthly inflation figures.
The Bank of Canada will be poring over the latest figures ahead of its first interest rate decision of the year, set for Jan. 29.
More to come…
