Cost of living
The annual inflation rate dropped to its lowest level in three years in November.
GST holiday break: Is it good for Canada’s economy?
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- Canada’s annual inflation rate came in at just 0.8% in November matching levels not seen since the economy was emerging from recession in 2009. The cost of things like gas an new cars fell in the month.
- While the cost of living may have fallen in the weeks leading up to Christmas, overall holiday spending was up nearly 2%, according to Moneris Solutions Corp.’s pre-holiday spending report. Spending on fast food, entertainment and pet shops rose most this year over last, the credit and debit payment processor said. Meanwhile, book stores, department stores and travel saw spending drops.
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