Canada’s inflation rate cooled slightly in November, according to the latest figures from Statistics Canada.
The Consumer Price Index rose 1.9 per cent year over year, down from a two per cent increase in October.
Slower price growth was broad-based, according to StatCan, with prices for travel tours and the mortgage interest cost index having the biggest impact.
Grocery prices rose 2.6 per cent in November compared to the same period last year, down slightly from 2.7 per cent in October.
But prices remain elevated, with the cost of groceries having climbed by 19.6 per cent over the past three years.
Shelter prices also grew at a slower pace in November, rising 4.6 per cent year over year after a 4.8 per cent increase in October.
Rent prices did accelerate in November to 7.7 per cent, compared with 7.3 per cent the previous month, with Ontario, Manitoba and Nova Scotia seeing the biggest increases.
Meanwhile, the mortgage interest cost index decelerated for the 15th consecutive month, down 13.2 per cent in November from 14.7 per cent in October.
Year over year, prices rose at a slower pace in November compared with October in five provinces, according to StatCan.
While Atlantic Canadian provinces experienced an acceleration in prices in November, mainly due to fuel oil and other fuels, the rest of the country had slower or flat price growth.
