TORONTO (Reuters) - Canada’s annual inflation rate slowed to 0.7% in December, down from a year-over-year increase of 1.0% in November, on lower air transportation prices and reduced food price growth, Statistics Canada said on Wednesday.
FILE PHOTO: A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015.
REUTERS/Mark BlinchAnalysts polled by Reuters had expected the annual rate to remain at 1.0% in December.
STORIES:Market reaction: CAD/Link: hereCOMMENTARYRYAN BRECHT, SENIOR ECONOMIST, ACTION ECONOMICS“The slowing in total and core CPI growth supports the BoC’s view that current accommodation will remain in place until 2023.
So we’re not terribly surprised to see the negative month-over-month number on CPI.”“It’s nothing terribly alarming on the headline number.
Mark Blinch, RYAN BRECHT, ” ANDREW KELVIN, we’re, ”
TORONTO, Statistics, REUTERS, Reuters, ACTION, CANADA
Statistics Canada, Toronto