Inflation cools in February, falling to 5.2%: Statistics Canada While that's substantially lower
Inflation cools in February, falling to 5.2%: Statistics Canada
While thats substantially lower than the 8.1 per cent inflation peaked at last June, its still well above the 2 per cent targeted by the Bank of Canada.
By Josh RubinBusiness Reporter
Tue., March 21, 2023timer1 min. read
https://www.thestar.com/business/2023/03/21/inflation-cools-in-february-falling-to-52-statistics-canada-says.html
"SNIP.......
Canadas annual rate of inflation fell in February, driven by lower prices for gasoline and natural gas.
The Consumer Price Index a broad-based measure of inflation was 5.2 higher in February than it was a year ago, Statistics Canada announced Tuesday morning. Thats down from 5.9 per cent in January.
A consensus of economists surveyed by Bloomberg expected it to fall to 5.3 per cent.
While thats substantially lower than the 8.1 per cent inflation peaked at last June, its still well above the 2 per cent targeted by the Bank of Canada. Some items are still seeing inflation well above the headline rate; in February, groceries were 10.6 per cent higher than they were a year ago.
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( inflation is 6.0% in the USA down from 6.4% in January)