The Canadian Statistics Office released today, Tuesday, the Consumer Price Index (CPI) data for November, which showed mixed performance compared to market expectations.

On a monthly basis, the Consumer Price Index recorded growth of 0%, meaning prices remained stable with no change compared to October, which saw a contraction of -0.4%. This performance fell short of market expectations, which indicated slight growth of 0.1%.

On an annual basis, the inflation rate slowed to 1.9% in November, down from expectations which indicated that annual growth would remain stable at 2%, the same rate achieved in September.

This slowdown indicates continued deflationary pressures in the Canadian economy, which may prompt the Bank of Canada to reconsider its monetary policy in the coming months, especially as inflation rates fall below the announced targets.