Canada’s inflation rate rose 1 percent in the month of November as costs rose in seven of the eight sectors reviewed by Statistics Canada. The government agency did point to an increase in gasoline prices however, as the largest single component pushing the overall inflation rate higher.
“Prices at the pump are now exerting upward pressure on the Consumer Price Index after an extended period in which they were the main contributors to year-over-year declines in overall consumer prices,” Statistics Canada noted in its inflation report.
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