OTTAWA—Canada’s annual inflation rate accelerated again in December, hitting a 30-year high, data showed on Wednesday, bolstering expectations the central bank could start hiking interest rates as early as next week.
Inflation rose to 4.8 percent, in line with expectations and up from 4.7 percent in November, Statistics Canada said. It was the ninth consecutive month in which headline inflation topped the Bank of Canada’s 1–3 percent control range.
