Canada ended 2018 with 2pc inflation, official data reveal

Canada recorded 2.0 per cent inflation in 2018. — AFP file pic
Canada recorded 2.0 per cent in 2018. — AFP file pic

OTTAWA, Jan 18 — Canadians paid 2.0 per cent more for goods and services in December than a year earlier, the government statistical agency said today.

The figure closing out 2018 was slightly higher than economists had forecast, after a 1.7 per cent average price hike the previous month.

Statistics Canada noted higher prices in December for airfares during the holiday season, travel tours, telephone services, restaurant meals, fresh vegetables, and vehicle .

Mortgage interest costs also rose in the month.

These bigger outlays, however, were partially offset by crude oil prices that continued to fall amid a global supply glut, pushing down gasoline prices.

Natural gas prices also dropped, as did the cost of furniture and digital computing equipment. — AFP

Source: The Malay Mail Online

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