November inflation steady at 2.9 percent, core tame

OTTAWA (Reuters) – Canadian annual inflation held steady at 2.9 percent and core inflation was at 2.1 percent in November, with the core number slightly undershooting forecasts, according to Statistics Canada data released on Tuesday. The data caused a brief dip in the Canadian dollar but it quickly recovered as analysts reckoned that the Bank of Canada was likely to stay on the sidelines for some time to come. Both the overall consumer price index and the core index, which strips out volatile items, rose a modest 0.1 percent on the month. …