Drop in Inflation Rate more than expected
Canada’s Inflation Rate has dropped for the seventh straight month, and January’s drop in rate was larger than expected – 5.9% vs 6.2%. This is good news. Experts predict the next rate for February will be 5.2%. This will impact the BOC rate later this year.
Inflation Rate in Canada averaged 3.14 percent from 1915 until 2023, reaching an all time high of 21.60 percent in June of 1920 and a record low of -17.80 percent in June of 1921.