Kevin Carmichael: Slower inflation means the Bank of Canada's 'March break' is back on via financialpost
in January, suggesting the economy still had plenty of momentum — even though the central bank had never been more aggressive in trying to cool it down. And last week, evidence emerged that inflation in the United States was hotter than anticipated at the start of the year, raising questions about whether the story would be similar in Canada.Article content
Excluding food and energy prices, the consumer price index rose 4.9 per cent from January 2022, compared with a year-over-year increase of 5.4 per cent in December. That’s significant because the headline inflation number is often influenced by volatile prices for commodities such as oil, grain and vegetables.
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