{"id":6703,"date":"2026-01-19T15:55:21","date_gmt":"2026-01-19T15:55:21","guid":{"rendered":"https:\/\/www.rbc.com\/en\/economics\/?p=6703"},"modified":"2026-04-02T23:47:03","modified_gmt":"2026-04-02T23:47:03","slug":"canadian-cpi-growth-ticked-higher-on-tax-distortions","status":"publish","type":"post","link":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/","title":{"rendered":"Canadian CPI growth ticked higher on tax distortions"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h4 class=\"wp-block-heading has-rbc-bright-blue-color has-text-color has-link-color wp-elements-7eaae169d0fd8d70e764c1a83c195500\" id=\"h-the-bottom-line\">The Bottom Line<\/h4>\n\n\n\n<p>The tick higher in the headline inflation rate in December largely reflected tax-related distortions. The temporary GST\/HST tax holiday a year ago artificially&nbsp; increased measured year-over-year growth in after-tax prices, particularly for after-tax restaurant prices, which jumped to 8.5% above year ago levels in December.&nbsp;<\/p>\n\n\n\n<p>Broader underlying price pressures actually showed signs of easing in December\u2014\u00a0the BoC&#8217;s trim and core CPI measures (which exclude indirect taxes) posted their smallest average month-over-month increase (+0.1%) since February 2024.\u00a0<\/p>\n\n\n\n<p>Still, current inflation is highly uneven across products.<\/p>\n\n\n\n<p>Energy prices were almost 9% below year-ago levels in December (in part due to the removal of the consumer carbon tax in most provinces in April 2025).&nbsp;<\/p>\n\n\n\n<p>But grocery prices (less impacted by the tax changes a year ago) continued to surge, hitting 5.0% year-over-year in December, led by higher prices for meat (8.5%.)&nbsp;<\/p>\n\n\n\n<p>The rise in food prices will continue to raise concerns about affordability, particularly at the lower end of the income distribution. But there is little the Bank of Canada can do about higher grocery prices, which have been driven by global commodity price trends, and reduced cattle inventories that have been putting upward pressure on meat prices.<\/p>\n\n\n\n<p>The BoC will be encouraged by further signs that inflation is broadly trending back towards the 2 percent target, but the broader economic backdrop has also shown signs of stabilizing with the unemployment rate&nbsp; beginning to edge lower.&nbsp; And interest rates have already been cut to the neutral levels that would not be expected to add to, or subtract from, inflation pressures over time. As long as the economic backdrop shows further signs of improvement, and inflation remains at or above 2% target rates, there is little reason for the BoC to lower interest rates further.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<div id=\"everviz-lGj_j2qQW\" class=\"everviz-lGj_j2qQW\" data-view=\"graph\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<h4 class=\"wp-block-heading has-rbc-bright-blue-color has-text-color has-link-color wp-elements-7801376222f80b5994e25c141fcae541\" id=\"h-the-december-details\">The December details:<\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-chevron-list mar-l-qtr mob-mar-l-qtr\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Headline CPI growth rose to 2.4% in December from 2.2% in November, with the increase largely driven by higher indirect taxes with prior year levels lowered artificially by a temporary GST\/HST holiday in place from mid-December 2024 to mid-February 2025.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Much of the increase came from a jump in year-over-year restaurant price growth to 8.5% from 3.3% in November\u2014restaurant prices were exempt from GST\/HST a year ago during the tax holiday (declined 1.6% year-over-year in December 2024)<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Still, grocery prices were significantly less impacted by tax distortions and jumped to 5.0% above year-ago levels\u2014the highest rate since October 2023.\u00a0<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>As in recent months, much of the upward pressure in prices came from higher prices of meat, which have been pushed up in part by reduced North American cattle inventories. Beef price growth actually slowed slightly in December but was still 16.8% on a year-over-year basis.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Energy prices continue to provide offset, running below year ago levels, although also in part due to tax distortions (the removal of the consumer carbon tax in most provinces in April 2025.) Energy prices were down 8.8% from a year ago in December.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Overall, price growth excluding indirect taxes, price growth slowed from 2.8% in November to 2.5% in December. Excluding food, energy, and indirect taxes, price growth held steady at 2.4% on a year-over-year basis in December.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Broader underlying core measures showed further signs of moderation.\u00a0 The BoC&#8217;s trim and median measures posted an average 0.1% increase in December\u2014the smallest increase since February 2024. The three-month moving average of the measures fell below a 2% annualized rate for the first time since April 2024, although the 12-month growth rate remained above the BoC&#8217;s 2% inflation target.\u00a0<\/p>\n<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" height=\"1024\" width=\"898\" src=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2026\/01\/CPI-table-Jan-2026.png?quality=80&amp;w=898\" alt=\"\" class=\"wp-image-6707\" srcset=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2026\/01\/CPI-table-Jan-2026.png 8826w, https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2026\/01\/CPI-table-Jan-2026.png?resize=263,300 263w, https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2026\/01\/CPI-table-Jan-2026.png?resize=768,875 768w, https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2026\/01\/CPI-table-Jan-2026.png?resize=898,1024 898w, https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2026\/01\/CPI-table-Jan-2026.png?resize=1348,1536 1348w, https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2026\/01\/CPI-table-Jan-2026.png?resize=1797,2048 1797w\" sizes=\"auto, (max-width: 898px) 100vw, 898px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<p><em><em><strong>Nathan Janzen<\/strong>&nbsp;is an Assistant Chief Economist, leading the macroeconomic analysis group. His focus is on analysis and forecasting macroeconomic developments in Canada and the United States.<\/em><\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":318,"featured_media":1133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[83,93],"tags":[115,65],"rbc_econ_content_type":[],"class_list":["post-6703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canadian-analysis","category-data-flashes","tag-canada","tag-inflation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Canadian CPI growth ticked higher on tax distortions - RBC Economics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian CPI growth ticked higher on tax distortions\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Economics\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-19T15:55:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-02T23:47:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/05\/Inf-CA-Compressed-4.png?quality=80\" \/>\n\t<meta property=\"og:image:width\" content=\"3067\" \/>\n\t<meta property=\"og:image:height\" content=\"1850\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"viktoriyapanahova\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"viktoriyapanahova\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/\"},\"author\":{\"name\":\"viktoriyapanahova\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea\"},\"headline\":\"Canadian CPI growth ticked higher on tax distortions\",\"datePublished\":\"2026-01-19T15:55:21+00:00\",\"dateModified\":\"2026-04-02T23:47:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/\"},\"wordCount\":601,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/05\/Inf-CA-Compressed-4.png?quality=80\",\"keywords\":[\"Canada\",\"Inflation\"],\"articleSection\":[\"Canadian Analysis\",\"Data Flashes\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/\",\"name\":\"Canadian CPI growth ticked higher on tax distortions - RBC Economics\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/05\/Inf-CA-Compressed-4.png?quality=80\",\"datePublished\":\"2026-01-19T15:55:21+00:00\",\"dateModified\":\"2026-04-02T23:47:03+00:00\",\"author\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#primaryimage\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/05\/Inf-CA-Compressed-4.png?quality=80\",\"contentUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/05\/Inf-CA-Compressed-4.png?quality=80\",\"width\":3067,\"height\":1850},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rbc.com\/en\/economics\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Canadian CPI growth ticked higher on tax distortions\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#website\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/\",\"name\":\"RBC Economics\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rbc.com\/en\/economics\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea\",\"name\":\"viktoriyapanahova\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g\",\"caption\":\"viktoriyapanahova\"},\"url\":\"https:\/\/www.rbc.com\/en\/economics\/author\/viktoriyapanahova\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Canadian CPI growth ticked higher on tax distortions - RBC Economics","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/","og_locale":"en_US","og_type":"article","og_title":"Canadian CPI growth ticked higher on tax distortions","og_url":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/","og_site_name":"RBC Economics","article_published_time":"2026-01-19T15:55:21+00:00","article_modified_time":"2026-04-02T23:47:03+00:00","og_image":[{"width":3067,"height":1850,"url":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/05\/Inf-CA-Compressed-4.png?quality=80","type":"image\/png"}],"author":"viktoriyapanahova","twitter_card":"summary_large_image","twitter_misc":{"Written by":"viktoriyapanahova","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#article","isPartOf":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/"},"author":{"name":"viktoriyapanahova","@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea"},"headline":"Canadian CPI growth ticked higher on tax distortions","datePublished":"2026-01-19T15:55:21+00:00","dateModified":"2026-04-02T23:47:03+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/"},"wordCount":601,"commentCount":0,"image":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/05\/Inf-CA-Compressed-4.png?quality=80","keywords":["Canada","Inflation"],"articleSection":["Canadian Analysis","Data Flashes"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/","url":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/","name":"Canadian CPI growth ticked higher on tax distortions - RBC Economics","isPartOf":{"@id":"https:\/\/www.rbc.com\/en\/economics\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#primaryimage"},"image":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/05\/Inf-CA-Compressed-4.png?quality=80","datePublished":"2026-01-19T15:55:21+00:00","dateModified":"2026-04-02T23:47:03+00:00","author":{"@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea"},"breadcrumb":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#primaryimage","url":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/05\/Inf-CA-Compressed-4.png?quality=80","contentUrl":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/05\/Inf-CA-Compressed-4.png?quality=80","width":3067,"height":1850},{"@type":"BreadcrumbList","@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/canadian-cpi-growth-ticked-higher-on-tax-distortions\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rbc.com\/en\/economics\/"},{"@type":"ListItem","position":2,"name":"Canadian CPI growth ticked higher on tax distortions"}]},{"@type":"WebSite","@id":"https:\/\/www.rbc.com\/en\/economics\/#website","url":"https:\/\/www.rbc.com\/en\/economics\/","name":"RBC Economics","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbc.com\/en\/economics\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea","name":"viktoriyapanahova","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g","caption":"viktoriyapanahova"},"url":"https:\/\/www.rbc.com\/en\/economics\/author\/viktoriyapanahova\/"}]}},"author_meta":{"display_name":"viktoriyapanahova","author_link":"https:\/\/www.rbc.com\/en\/economics\/author\/viktoriyapanahova\/"},"featured_img":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/05\/Inf-CA-Compressed-4.png?quality=80&w=300","jetpack_featured_media_url":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/05\/Inf-CA-Compressed-4.png?quality=80","coauthors":[],"tax_additional":{"categories":{"linked":["<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/\" class=\"advgb-post-tax-term\">Canadian Analysis<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/data-flashes\/\" class=\"advgb-post-tax-term\">Data Flashes<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Canadian Analysis<\/span>","<span class=\"advgb-post-tax-term\">Data Flashes<\/span>"]},"tags":{"linked":["<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/data-flashes\/\" class=\"advgb-post-tax-term\">Canada<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/data-flashes\/\" class=\"advgb-post-tax-term\">Inflation<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Canada<\/span>","<span class=\"advgb-post-tax-term\">Inflation<\/span>"]}},"comment_count":"0","relative_dates":{"created":"Posted 3 months ago","modified":"Updated 3 weeks ago"},"absolute_dates":{"created":"Posted on January 19, 2026","modified":"Updated on April 2, 2026"},"absolute_dates_time":{"created":"Posted on January 19, 2026 3:55 pm","modified":"Updated on April 2, 2026 11:47 pm"},"featured_img_caption":"","series_order":"","_links":{"self":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts\/6703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/users\/318"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/comments?post=6703"}],"version-history":[{"count":6,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts\/6703\/revisions"}],"predecessor-version":[{"id":6710,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts\/6703\/revisions\/6710"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/media\/1133"}],"wp:attachment":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/media?parent=6703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/categories?post=6703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/tags?post=6703"},{"taxonomy":"rbc_econ_content_type","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/rbc_econ_content_type?post=6703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}