Rate Of Inflation 2024 Canada January. Higher interest rates are working to ease price pressures in canada and inflation is coming down, though progress to the 2% target is slow. Canada's annual inflation rate slowed significantly more than expected to 2.9% in january and core price measures also eased, data showed on tuesday, bringing forward bets.
The bank projects that inflation will stay around 3½%. The bank of canada’s first interest rate decision of the year is due wednesday.