Canada Inflation Accelerates to 2.4% in December

OTTAWA—Inflation in Canada quickened in the final month of last year despite a drop in prices at the pump, largely due to comparisons with a year earlier when consumers benefited from a two-month tax holiday.

The consumer-price index rose 2.4% from a year earlier in December, Statistics Canada said Monday. That was hotter than the 2.2% economists expected the index to hold steady at, and left the pace just above the Bank of Canada’s 2% goal for a fourth straight month.