Today's data: inflation for November! 📈 📉 Overall headline rate remains at 3.1%, same as October. Monthly pace of price changes was 0.1%. www150.statcan.gc.ca/n1/daily-quoti… #cdnecon #cdnpoli
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The decline in the pace of inflation is also relatively broad based! How only ~30% of products have price increases above 3%, on average (annualized), over the pace three months. Sharp recent decline is great to see! #cdnecon
@trevortombe This shows that the contribution of food inflation is dropping nicely. Is the cost of owned accommodation set to drop with lower home prices or is that offset by higher interest rates so likely to stay high year over year until we lap the interest rate pause?