In 2024, expectations were for the average national one-year inflation rate to increase by 0.2 percentage points, month-to-month, and to 3.3 per cent for the year. Three-year inflation is expected to increase from 3.6 to 3.7 per cent between 2021 and 2024. Where did price inflation decrease the most? What role did the federal government’s tax holiday play here? What about its immigration policy and housing prices? And what impact will tariff threats mean for the cost of imports and the Bank of Canada’s ability to control inflation?
Read our outlook to get the full report.
