The latest data from Statistics Canada reveals that the country's Common Consumer Price Index (CPI) has remained constant at 2.0% for December 2024. This figure is unchanged from November 2024, maintaining the same rate on a year-over-year basis.
The stability in the Common CPI indicates that inflationary pressures have steadied at a moderate level, mirroring the central bank's target for inflation, which is set at 2.0%. This consistency suggests that the country might not feel immediate pressure to alter monetary policy drastically, as the current inflation rate aligns with economic forecasts and goals.
The report, updated on January 21, 2025, shows a consistent economic climate from the perspective of consumer pricing. As Canada continues to navigate global and domestic challenges, maintaining a stable inflation rate could be a sign of economic resilience heading into 2025.
