that the consumer price index rose 5.9 per cent year over year last month. The January slowdown represents the third consecutive deceleration since October. Analysts had forecast an increase of 6.1 per cent.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
RBC economist Claire Fan said in her note on the inflation reading that there are signs that food prices could start to moderate in the coming months. “Lower agricultural commodity prices and easing global supply chain pressures are expected to slow food price growth this year,” she said.to stick to its conditional pledge to pause rate hikes.Article content
Here’s what economists are saying about the latest inflation numbers and what they mean for the Bank of Canada and interest rates.“The downside surprise occurred despite a much larger 1.1 per cent month over month rise in food prices than we had assumed, while gasoline prices rebounded by 4.7 per cent month over month. Core prices rose by just 0.1 per cent month over month — the smallest increase since February 2021. The 0.
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