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(MNI) OTTAWA
OTTAWA (MNI)
Canadian consumer prices rose 1.4% from a year earlier in November after adjusting the weights in the inflation basket for new spending patterns seen during the pandemic, the government statistics office said Tuesday, versus the official figure of 1.0%.
Statistics Canada called the re-weighted CPI "experimental" and said the biggest difference with the official rate is the higher weight given to rising food prices, especially for meat and vegetables. The agency has worked with the Bank of Canada on tracking inflation, with the central bank saying many households feel inflation is higher than what is being reported.
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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