Inflation cooled to 6.3% in December in Canada as potential recession looms

Inflation across Canada cooled to 6.3 per cent in December, and while many felt some relief as gas prices plunged, the cost of food remained high.

The Central Bank's next interest rate announcement is slated for Jan. 25 and money markets expect a quarter per cent hike.

Global's Anne Gaviola has more on the cost of living, interest rates and a potential recession.

#GlobalNews #Inflation #Money

[ryanreinhart]

Global is such a Joke.
Remember this 6% represents month over month.
Over prices are 60-70% higher than they were a year ago.

[Resologist]

"Inflation cooled"? Do the news editors at Global News really think they're being clever. Probably never had a hungry day in their lives!

[justingregory]

You can't time the market, so don't waste your time! You will only miss out on gains. Time IN the market is your greatest ally.

[vasilytanygin]

Last December everything was already expensive

[michaelngfinance]

I don't think the Bank of Canada is happy with the 6.3% inflation. We are very likely to see a 50bps rate hike next week.

[roberttaylor]

Inflation is producing a slew of problems throughout the world, including food shortages, diesel and heating fuel shortages, and housing prices and financial market crash. This global collapse might end up being a part of us for a very long time. With inflation currently at about 9%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.

[georgesimon]

"cooled"? That is not cool for us paying the bills due to Justinflation.

[markeves]

April 1stbinflation will get a big boost from carbon tax increases that will raise the price of everything. Everything.

[kolar]

Food, diesel and some other import stuff are still between 12-20%. I doubt the Bank of Canada will be able to fix inflation. I highly suspect they can destroy out economy trying. And they're trying.

[tomcotter]

This Canadian paid news 😊
Is crazy !! Paid 247$ at IGA walked 😂out with a few bags in each hand. 😂

[devinfraser]

So the rise in fuel prices today kills that …

[stephenmorris]

Welcome to Stagflation, the killer of everyone.

[cheehincheong]

southern master is going bankrupt whereas the lapdog is going hungry.

[rktvjunaid]

Life becomes hard rent higher Mortage higher . interest rate making life hard so much Mortage to pay 💰 rent higher to . So what point poor is more poor because rent will stay higher after interest rate come down . Both should be Balance renter and MORTGAGE ?