Higher prices for automobiles pushed the annual inflation rate to 2.4% in November, Statistics Canada said Friday, up slightly from October’s rate of 2.3%.

“This 0.1% difference was due to a larger than usual monthly increase in automotive vehicle prices in November,” the federal government agency said.

The core annual inflation rate, which factors out eight volatile components, rose by 1.6% in November 2004, slightly more than the 1.4% recorded in October 2004.

StatsCan said average gasoline prices in November were 17.7% higher than in November 2003.

In addition to higher prices at the gas pumps, Canadians also paid more for fuel oil, cigarettes and home repair and renovation costs.

“The Bank of Canada projected core inflation to average 1.5% in Q4, and that looks like it will be right on,” BMO Nesbitt Burns chief economist Sherry Cooper said in a written commentary.

“However, prior to today’s report, core inflation looked like it was going to undershoot that forecast. Thus, today’s result will help quash the fringe talk of Bank of Canada rate cuts,” she said.