OTTAWA (NEWS1130) – The country’s annual inflation rate increased at the same pace for the second month in a row, rising just 1.0 per cent in February.
Statistics Canada’s latest consumer price index says cheaper gas prices once again played a big role in keeping inflation low as items in almost every category climbed.
The agency says gasoline prices fell 21.8 per cent in February compared with the previous year, while fuel oil tumbled 23.4 per cent.
The report found the higher cost for food and shelter led the upward pressure on prices. The price of meat rose 12.4 per cent compared to a year earlier, while natural gas increased 10.8 per cent.
Inflation increased in six provinces in the 12 months leading up to February, with Ontario registering the biggest gain at 1.3 per cent.
Statistics Canada says the headline inflation rate would have increased to 2.2 per cent on a year-over-year basis in February if gas prices had been excluded compared with a 2.4 per cent increase in January.