Urgent.. The readings of the inflation rate in Canada for the month of November showed varying results.

The Canadian Statistics Office released the inflation index data for November on Tuesday, which showed mixed performance compared to market expectations. The Consumer Price Index recorded no significant performance in November, registering 0%, falling short of market expectations that indicated a growth of only 0.1%, following a contraction of the index by 0.4% in October.

On an annual basis, the growth of the Consumer Price Index slowed to 1.9% in November, lower than expectations which predicted it would register growth at the same rate as the annual inflation in September, which was 2%.

Meanwhile, the core Consumer Price Index, which excludes volatile components that account for over 40%, recorded an annual growth rate of 2.7% in November, surpassing estimates that predicted a core inflation growth of about 2.6%, after achieving the same growth rate of 2.6% in October.

The Consumer Price Index is considered one of the most important economic indicators used to measure inflation. The index relies on tracking the average prices of a diverse basket of goods and services such as food, transportation, and healthcare. Its results directly affect the monetary policies of central banks, as these institutions resort to raising interest rates to combat high inflation and maintain economic stability.