The November inflation reading followed a 1.4% increase in consumer prices in October
The consumer price index was up 1.4% in October compared with a year ago, following a 1.6% increase in September
Inflation has been in the lower end of the central bank’s itarget bands of 1% to 3% for quite some time
Several one-time factors including below-average food inflation and the Ontario government’s reduction in electricity prices have helped keep inflation in check this year
Retail sales contract in August
Retail sales strengthen in July
The annual rate saw its first increase since it peaked in January at 2.1%
The June number followed inflation readings of 1.3% in May and 1.6% in April, slipping further away from the Bank of Canada’s 2% target
Weaker year-over-year growth in gasoline prices helped slow the annual rate
However, meat prices are expected to jump in 2017