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Annual pace of inflation rises in November

Last Updated Dec 16, 2020 at 5:54 am PDT

FILE - Statistics Canada building and signs are pictured in Ottawa on Wednesday, July 3, 2019. THE CANADIAN PRESS/Sean Kilpatrick
Summary

Canada's inflation rate was up 1.0 per cent in November compared with a year ago

Driving most of the increase was a rise in prices for homes, rent and household goods, Statistics Canada says

OTTAWA – Statistics Canada says its consumer price index in November was up 1.0 per cent compared with a year ago.

The increase compared with a year-over-year increase of 0.7 per cent in October and 0.5 per cent in September.

Economists had expected a year-over-year increase for November of 0.8 per cent, according to financial data firm Refinitiv.

Driving most of the increase was a rise in prices for homes, rent and goods around the house like furniture and appliances.

Gasoline prices in November fell 11.9 per cent year-over-year as the pandemic continued to weigh on demand.

Statistics Canada says the consumer price index excluding gasoline in November was up 1.3 per cent compared with a year ago.