👉Canada's annual inflation rate held steady at 3.1% in November, according to Statistics Canada. The report indicates that higher prices for recreation and clothing contributed to inflation pressures. However, there's positive news on the grocery front, with the pace of price increases slowing for a fifth consecutive month. Grocery prices rose 4.7% year-over-year, marking a slowdown from October's 5.4%. The Bank of Canada has maintained its key interest rate at 5%, citing encouragement from the economic slowdown and easing inflation. Governor Tiff Macklem acknowledged potential challenges but did not rule out another rate hike.✅ . . #EconomicUpdate #FinancialNews #ConsumerPrices #InflationData #CanadianFinance #CanadaInflation #CanadFoodPrice #mnm #malayalisnearmeapp #canadaupdate #canadanews