The consumer price index rose 2.2 per cent from a year earlier, the same as the previous month, Statistics Canada reported. The various measures the Bank of Canada uses to filter volatility dropped below three per cent, but remained somewhat elevated. (The Logic)

Talking point: Anyone stressed by the cost of living will question the notion that inflation is contained. Grocery prices increased 4.7 per cent from November 2024, and cellular services surged 12.7 per cent after jumping 7.7 per cent year over year last month. But the consumer price index covers hundreds of items, not just the highly visible ones. Also, once prices increase, it typically takes a recession to bring them back down, so the best solution is to slow the rate of change so wages can catch up.