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Economic News

Canada: New Year, Potentially a New Trend in Inflation

February 21, 2023
Marc Desormeaux
Principal Economist

Consumer prices rose 0.5% in January, coming in below consensus to lower the annual rate of inflation to 5.9%. We’re encouraged by the continued easing of multiple measures of core inflation, although it’s far too early to declare victory. Still, today’s print suggests that the Bank of Canada just might be able to avoid any further rate increases.

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