Canada Inflation Below Expectations in November

08:53 AM EST, 12/15/2025 (MT Newswires) -- The Canadian consumer price index rose 2.2% on a year-over-year basis in November, matching the increase in October, said the country's statistical agency on Monday.

November's CPI was slightly lower than the 2.3% year-over-year consensus figure provided by Scotiabank.

Year over year, prices for services rose at a slower pace in November compared with October, noted Statistics Canada in a statement. Lower prices for travel tours and traveller accommodation, in addition to slower growth for rent prices, put downward pressure on the all-items CPI.

Offsetting the slower growth in services on an annual basis were higher prices for goods, driven by price increases for groceries as well as a smaller decline for gasoline prices.

Excluding gasoline, the CPI rose 2.6% year over year for the third consecutive month.

The CPI rose 0.1% month over month in November on a non-seasonally adjusted basis, added StatsCan. On a seasonally adjusted monthly basis, the CPI increased 0.2%.

Prices for food purchased from stores rose 4.7% year over year in November after increasing 3.4% in October. The increase in November was the largest since December 2023, which was 4.7%. The main contributors to the acceleration in November 2025 were fresh fruit at 4.4%.

The monthly and quarterly CPI reports, reported by StatsCan, measure the index level of prices paid by consumers for a basket of goods and services such as food, energy, vehicle, medical care, apparel, and housing. The core measure, which excludes food and energy due to their volatility, is closely watched by markets and the Bank of Canada as a sign of underlying inflation pressures.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.