Economists expect Canada’s annual inflation rate to rise slightly in November.
A Reuters survey of economists suggests inflation will reach 2.3 per cent for the month, based on data from LSEG Data & Analytics.
CIBC senior economist Andrew Grantham says higher gasoline prices are likely the main reason for the increase.
Statistics Canada reported that inflation was 2.2 per cent in October.
Earlier this week, the Bank of Canada kept its key interest rate at 2.25 per cent. The bank said more rate cuts are not needed right now because inflation is under control and the economy is stable.
RSM chief economist Joseph Brusuelas says inflation has mostly stayed steady in recent months, even though prices for some foods and metals have gone up.
