Canada’s annual inflation rate slowed to 2.8 per cent in February, according to Statistics Canada.
Economists had expected uptick after rate dipped to 2.9 per cent in January
Jenna Benchetrit · CBC News ·
People shop in a grocery store in Montreal in November 2022. Canada’s annual inflation rate slowed to 2.8 per cent in February, according to Statistics Canada. (Graham Hughes/The Canadian Press)
Canada’s annual inflation rate slowed to 2.8 per cent in February, helped by a deceleration in the cost of cellular services, groceries and internet access services, Statistics Canada said Tuesday.
Economists had largely expected the rate to rise and undo some of the year’s early progress.
Rent and mortgage interest costs continued to be primary drivers of the inflation rate, while gas prices also rose 0.8 per cent in February year-over-year after a significant four per cent decline in January.
More to come
ABOUT THE AUTHOR
Jenna Benchetrit is a senior writer with the business content unit at CBC News. She has also covered entertainment and education stories. A Montrealer based in Toronto, Jenna holds a master’s degree in journalism from Toronto Metropolitan University. You can reach her at [email protected].
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