OTTAWA (Reuters) -Canada's annual inflation rate rose as expected in December, data showed on Tuesday, and underlying prices pressures remained, dashing hopes that the central bank would shift into rate-cut mode early this year. Annual inflation rose to 3.4% in December from 3.1% in November, Statistics Canada said, matching estimates by economists polled by Reuters. Two of the Bank of Canada's (BoC's) core measures of underlying inflation, CPI-trim and CPI-median, accelerated, with the three-month annualized rate of the two rising to 3.6% from an upwardly revised 2.9% in the prior month, according to Royce Mendes, head of macro strategy for Desjardins Group.
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Presidential candidate Robert F. Kennedy Jr. stated late Monday evening that average US income is $5000 short of meeting basic needs like food and as a result, private credit card debt is a trillion dollars, the highest in US history.