Canada ended 2018 with 2pc inflation

19th January, 2019 10:10:45 printer

OTTAWA: Canadians paid 2.0 percent more for goods and services in December than a year earlier, the government statistical agency said Friday.

The figure closing out 2018 was slightly higher than economists had forecast, after a 1.7 percent average price hike the previous month, reports AFP.

Statistics Canada noted higher prices in December for airfares during the holiday season, travel tours, telephone services, restaurant meals, fresh vegetables, and passenger vehicle insurance.

Mortgage interest costs also rose in the month.

These bigger outlays, however, were partially offset by crude oil prices that continued to fall amid a global supply glut, pushing down gasoline prices.

Natural gas prices also dropped, as did the cost of furniture and digital computing equipment.