The Consumer Price Index rose 2.4 percent compared to last December, driven by the federal government’s tax holiday from the previous year, new data from Statistics Canada shows.
The year-over-year increase in the overall Consumer Price Index (CPI) was influenced by the GST holiday that began on Dec. 14, 2024. This led to monthly reductions in the exempt goods and services, which are no longer part of the year-over-year trend, resulting in increased pressure on the headline CPI growth, StatCan said.
