Canada’s annual inflation rate held steady at 2.2% in November, according to data released Monday by Statistics Canada. The reading came in slightly below economists’ expectations of 2.3%, based on a Bloomberg survey.
On a monthly basis, the consumer price index increased by 0.1%, in line with market forecasts.
Measures of core inflation showed further signs of easing. The Bank of Canada’s preferred core gauges, known as the median and trim measures, slowed to an annual rate of 2.8% in November, down from 3.0% in October.
Looking at shorter-term trends, the three-month moving annualized rate for these core measures eased to 2.3%, compared with 2.6% in the previous month.
