SmartHomeOwners

OTTAWA: Statistics Canada says Canada's annual inflation rate rose to two per cent, but slowed from a two-year high set in October.

The moderation in price growth occurred in most items as gasoline, electricity, auto prices and home replacement costs all rose, though not as much as the previous month.

As well, November saw an outright drop in prices for several items, including fresh vegetables, both men and women's clothing, non-alcoholic beverages and mortgage interest costs.

The agency says underlying core inflation, which the bank of Canada uses to measure price pressures, dropped to 1.4 per cent from 1.8 the previous month.

That puts the core well below the bank's two per cent target.