Canada inflation finished 2023 up slightly at 3.4% ...Middle East

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Canada inflation finished 2023 up slightly at 3.4%
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Inflation in Canada ticked up in December, the national statistical agency said Tuesday, dampening hopes of rapid interest rate cuts as core costs remained stubbornly high. This sudden acceleration to 3.4 percent, said Statistics Canada, was largely the result of higher costs for gasoline as well as airfares, fuel oil, passenger vehicles and rent. Food prices also rose in the month, while the costs of travel tours fell. The uptick in inflation by 0.3 percentage points comes after a steady decline from a recent peak of 8.1 percent in June 2022. Although the headline inflation figure was in line with forecasts, several core price measures used by the Bank of Canada in determining its key len

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