Driven by higher gasoline prices, Canada’s annual inflation rate jumped to 2.1 percent in November, after a 1.4-percent yearly increase in October, Statistics Canada said on Thursday, announcing figures that beat both analyst expectations and Bank of Canada’s ideal target of 2-percent inflation for possible interest rate hikes. The annual inflation rate last month was the highest since January 2017, Statistics Canada said. Excluding the gasoline price index, Canada’s consumer prices increased by 1.5 percent year over year in November after having risen 1.3 percent in October. Prices rose in seven of the eight major consumer price index (CPI) components, and the transportation and shelter indexes contributed the most to the price increases. Gasoline prices jumped 19.6 percent year over year in November, following an increase of 6.5 percent on the year in October. “The increase was partly attributable to higher crude oil prices in November, as well as […]