Annual pace of inflation climbs to 1.0 per cent in November, Statistics Canada says

Statistics Canada

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.