Ontario: Canada’s annual inflation rate fell to 6.3 percent in December. According to the latest Consumer Price Index released by the federal agency, this pace of inflation was halted due to a decrease in gas prices last month.

This balance was struck by the increase in mortgage interest rates, the increase in the prices of clothing and shoes as well as personal care supplies and equipment. The annual inflation rate in November was 6.8 per cent.

Grocery prices continued to rise in December but slowed down pace. These prices have increased by 11 percent compared to a year ago. Statistics Canada says that the average inflation rate in 2022 was 6.8 percent.

Leave a Reply