According to ActionForex, analysts at RBC Financial Group note that the Canadian consumer price growth slowed in December – to 0.7% compared to a year ago versus 1.0% in November. 

"Weak demand for transportation continued to weigh on airfares – which were down 14.5% from a year ago on much weaker-than-normal holiday travel demand. Food price growth also slowed to 1.1% from 1.9% in November. Energy prices were still down 4% from a year ago despite a 2% increase from November levels."

"The Bank of Canada’s preferred ‘core’ CPI measures (which are a better gauge of underlying inflation pressures) also slowed supporting our view that the Bank of Canada will maintain their highly stimulative monetary stance."