Canada’s consumer price index (CPI) rose 6.8 percent year over year in November, following a 6.9 percent increase in October, the national statistical agency said.
Statistics Canada said on Wednesday that excluding food and energy, prices rose 5.4 percent on a yearly basis in November, following a gain of 5.3 percent in October, reports Xinhua news agency.
According to Statistics Canada, on a monthly basis, petrol prices fell 3.6 percent in November following a 9.2 percent increase in October, largely driven by price declines in Western Canada.
The reopening of refineries in the western US contributed to lower prices in British Columbia, Alberta, Saskatchewan, and Manitoba.
Mortgage interest cost continued to rise at a faster rate year over year, up 14.5 percent in November compared with 11.4 percent in October, amid the higher interest rate environment.
The increase in November was the largest since February 1983. On a monthly basis, the CPI rose 0.1 percent in November following a 0.7 percent gain in October.
On a seasonally adjusted monthly basis, the CPI was up 0.4 percent, Statistics Canada said.
