# Canada's inflation rate ticks down to 1.9% in November

> Canada's annual inflation rate unexpectedly eased by a tick to 1.9% in November, while the consumer price index was flat month over month. Analysts had expected 2% inflation and a 0.1% monthly rise. The Canadian dollar was trading down 0.27% at 1.4280 per US dollar after the release.

- Date: 2024-12-17 · published 2024-12-17T12:00:00.000Z
- Category: report · region Canada · magnitude low
- Page: https://feedsoft.ai/events/27211-canada-s-inflation-rate-ticks-down-to-1-9-in-november
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Softer Canadian inflation supports further Bank of Canada rate cuts, widening the rate gap with the US and weighing on the loonie. A weaker loonie makes Canadian exports cheaper in US dollar terms.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/canadas-inflation-rate-ticks-down-19-november-2024-12-17/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.