Rising prices at the pump, rents, and air fares drive inflation

  • Canada’s annual inflation rate accelerated to 3.4% in December
  • Higher prices at the pump, rise in rents, and increase in air fares contributed to the increase
  • Inflation pick up in line with market expectations
  • Prices fell 0.3% on a month-over-month basis
  • CPI rose 0.3% from the previous month on a seasonally adjusted basis
  • Core inflation, excluding volatile goods, was 3.65% on-year in December

Canada’s annual inflation rate rose to 3.4% in December, driven by higher prices at the pump, a rise in rents, and an increase in air fares. This increase was in line with market expectations. On a month-over-month basis, prices fell by 0.3%, while on a seasonally adjusted basis, the consumer price index rose by 0.3% from the previous month. Core inflation, which excludes volatile goods such as food and energy, was 3.65% on-year in December.

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Factuality Level: 8
Justification: The article provides factual information about Canada’s annual inflation rate in December, including the factors that contributed to the increase. The information is supported by data from Statistics Canada and economists at TD Securities. There are no digressions, misleading information, sensationalism, or opinion masquerading as fact. The article does not contain irrelevant or tangential details. Overall, the article is well-researched and accurately reports the news.

Noise Level: 7
Justification: The article provides information on Canada’s annual inflation rate and the factors contributing to its acceleration. However, it lacks in-depth analysis, evidence, and actionable insights. It stays on topic but does not explore the consequences of inflation on the population or hold powerful people accountable. The article also lacks scientific rigor and intellectual honesty as it does not provide a comprehensive understanding of the underlying causes and potential solutions for inflation.

Financial Relevance: Yes
Financial Markets Impacted: The article provides information on Canada’s annual inflation rate, which can impact financial markets and companies.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the acceleration of Canada’s annual inflation rate, which is relevant to financial markets and companies. However, there is no mention of any extreme event.

Reported publicly: www.marketwatch.com