Article Date 19/01/2022

Inflation climbs to highest in more than 30 years, raising odds of rate hike next week

Source Fiancial Post

Canada's broadest measure of inflation climbed 4.8 per cent in December from a year earlier, the largest increase in more than 30 years, raising the odds that the Bank of Canada will raise interest rates next week to offset gathering cost pressures.

Statistics Canada's consumer price index (CPI), which the central bank uses as a guide for where to set its benchmark lending rate, was pushed higher by increases in the cost of almost everything, as all of the eight major components that the agency uses to group the many items it includes in its price basket posted gains last month.

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