Canada's Inflation Rate Stalls at 1.9% in November

Canada's annual inflation rate decreased slightly to 1.9% in November, down from 2% in October, according to Statistics Canada. This decline in inflation was driven by broad-based price reductions, particularly in travel tours and mortgage interest costs. The consumer price index (CPI) remained unchanged for the month, contrasting with predictions of a 0.1% increase. Core inflation measures also held steady, with CPI-median at 2.6% and CPI-trim at 2.7%. The Bank of Canada has recently lowered interest rates and is expected to continue doing so, albeit at a more gradual pace. Grocery prices rose by 2.6% annually, indicating persistent inflation pressures in essential goods despite the overall easing of inflation rates.