Inflation cools to 1.8% in December as tax ‘holiday’ kicked off

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Posted January 21, 2025 8:36 am

1 min read

'Canada’s taxation ‘holiday’ has had mixed results, businesses say'

1:40 Canada’s taxation ‘holiday’ has had mixed results, businesses say

The taxation "holiday" connected GST and, successful immoderate provinces, the HST connected assorted items and nutrient has been successful effect for a month, archetypal announced arsenic a mode to springiness consumers a interruption connected taxes connected their buying and nutrient purchases. But arsenic Sean Previl explains, businesses accidental the results from the archetypal period are mixed with immoderate reporting an summation successful income and others noting nary alteration astatine all.

Inflation slowed further successful December arsenic Canadian consumers got a taxation interruption from the national government.

Statistics Canada said Tuesday that the yearly gait of ostentation cooled to 1.8 per cent past month. That’s down from 1.9 per cent successful November.

The December ostentation figures seizure portion of Ottawa’s GST/HST “holiday,” which began Dec. 15.

StatCan said Tuesday that prices of nutrient bought from restaurants and alcoholic beverages — 2 of the categories excluded from national taxation for 2 months — saw a large deceleration successful the yearly and monthly ostentation figures.

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The Bank of Canada volition beryllium poring implicit the latest figures up of its archetypal involvement complaint determination of the year, acceptable for Jan. 29.

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'Halfway done the GST/HST taxation holiday'

2:01 Halfway done the GST/HST taxation holiday

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