Statistics Canada reported that the consumer price index was up 1.5 per cent in the 12 months to December following a 1.2 per cent rise in November. Shelter and transportation were among the drivers of the increase.
Shelter costs were up 2.1 per cent while transportation was impacted by a 5.5 per cent rise in gasoline prices. Meanwhile, food costs were lower.
Six provinces saw an increase in their consumer price indexes.
More market update:
Canadians’ cost of living increased in December and by a higher percentage than the previous month.