Canada's inflation rate decreased to 1.9% in November, largely due to reduced mortgage interest costs and cheaper travel tours, indicating a broad slowdown in price growth.
Grocery prices, while somewhat stabilized at 2.6% year-over-year, have still increased by 19.6% since November 2021, reflecting ongoing cost pressures for consumers.
Gas prices fell to -0.5% in November, but the decline's effect diminished when considering year-over-year comparisons due to varying base-year prices.
Without gasoline prices factored in, the overall inflation rate increased by 2% in November, suggesting underlying price dynamics that may influence monetary policy.
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