Annual inflation in Canada slowed down in January to 1.4% from 2% in December, official statistics showed. Economists had expected a less significant slowdown - up to 1.5%. A significant backlog of inflation from the Bank of Canada's target of 2% suggests that the regulator will not rush to raise interest rates in the near future. The largest decline in January was shown by electricity prices, which fell by 6.9% in annual terms. Such a significant drop was caused by a 14.2% decrease in the cost of gasoline. Services rose in price by 2.7% after a fall in their value by 3.5% in December. Compared to December, consumer prices in Canada increased by 0.1% in January, while economists had expected the growth at the level of 0.2%.
China’s inflation rate rises following Lunar New Year and virus outbreak06.02.2020
Vietnam-China trade in January drops amid virus outbreak and holidays06.02.2020
Bank of Canada says virus outbreak could worsen already shaky Canadian, global economy29.01.2020
Australia inflation climbs but remains below target