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Canadian Inflation

Canadian inflation, as measured by the Consumer Price Index (CPI), slowed to 1.4 per cent in the 12 months to October, down from 1.6 per in September. The Bank of Canada's three measures of trend inflation were largely unchanged, averaging 1.6 per cent.   In BCprovincial consumer price inflation was 2.0 per cent in the 12 months to October.

Inflation in Canada continues to trend below the Bank of Canada's 2 per cent target in spite of a very strong economy and a narrowing of the output gap. Until that trend changes, we expect the Bank will hold its policy rate at 1 per cent.

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