Inflation at 2.5% Core Inflation still in check?

Up slightly from October’s year over year rate of 2.4%the Consumer Price Index is now at 2.5% for November (year over year), with Gasoline prices and Mortgages leading the major cost increase areas.

The interesting quote from Stats Canada was:

However, the Bank of Canada’s core index, used to monitor the inflation control target, rose only 1.6%, posting its slowest 12-month increase since April 2006.

This means that the Bank of Canada is not likely to react to this inflation hike with an interest rate hike in January? We can only hope that is the case.

Tomorrow back to the land of personal finance, but inflation is something I view that directly affects (effects?) my day to day life and like to comment on it every month.

Consumer Price Index and major components
(2002=100)
	Relative importance	November 2007	October 2007	November 2006	October to November 2007	November 2006 to November 2007
		Unadjusted
					% change
All-items	100.00	111.9	111.6	109.2	0.3	2.5
Food	17.04	111.3	110.7	110.1	0.5	1.1
Shelter	26.62	118.8	118.7	114.1	0.1	4.1
Household operations and furnishings	11.10	103.3	103.4	102.2	-0.1	1.1
Clothing and footwear	5.36	96.4	97.1	97.0	-0.7	-0.6
Transportation	19.88	116.7	115.2	112.7	1.3	3.5
Health and personal care	4.73	108.0	107.5	106.7	0.5	1.2
Recreation, education and reading	12.20	102.0	102.7	100.5	-0.7	1.5
Alcoholic beverages and tobacco products	3.07	126.5	126.3	122.3	0.2	3.4
All-items (1992=100)		133.2	132.9	130.0	0.2	2.5
Special aggregates
Goods	48.78	107.6	107.1	106.1	0.5	1.4
Services	51.22	116.2	116.1	112.4	0.1	3.4
All-items excluding food and energy	73.57	109.6	109.6	107.7	0.0	1.8
Energy	9.38	136.5	134.5	123.8	1.5	10.3
Core Consumer Price Index	82.71	110.3	110.3	108.6	0.0	1.6
1. 2005 CPI basket weights at April 2007 prices, Canada – Effective May 2007. Detailed weights are available under the Documentation