Recalling our earlier update Can Crude Oil Prices Weigh On Canada CPI?, we were expecting to see an impact on the Canadian inflation rate, but looks like a drop in oil prices has covered a broader area.

Cheaper crude oil helped push Britain’s inflation rate touch its lowest since early 2017. The CPI rose at an annual rate of 2.3% in November which is in line with economists forecast of 2.3% but below the 2.4% rate in October.