Canada’s inflation rises 2.2 pct in November

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OTTAWA, Dec. 18 (Xinhua) — Canada’s inflation rose 2.2 percent on a year-over-year basis in November, Statistics Canada announced Wednesday.

It rose from a 1.9 percent increase in each of the previous three months. Excluding gasoline, the Consumer Price Index rose 2.3 percent in November, matching the increase in October.

Energy prices rose 1.5 percent year over year in November after declining 2.9 percent in October, while meat prices jumped 5.2 percent year over year, marking the fifth month of increases at or above 4.0 percent.

Gasoline prices drove the CPI increase in November, growing 0.9 percent on a year-over-year basis following a 6.7 percent decline in October.

The purchase of passenger vehicles index grew 2.9 percent on a year-over-year basis in November thanks to the greater availability of higher-priced 2020 model-year vehicles compared with October.

The country’s consumers paid 6.2 percent more for fresh or frozen beef, following disruptions to North American supply chains and strong international demand for Canadian beef during the first 10 months of this year.

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