Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

applegrove

(123,113 posts)
Tue Mar 21, 2023, 07:53 AM Mar 2023

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 that’s substantially lower than the 8.1 per cent inflation peaked at last June, it’s 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.......

Canada’s 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. That’s 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 that’s substantially lower than the 8.1 per cent inflation peaked at last June, it’s 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.

.......SNIP"

( inflation is 6.0% in the USA down from 6.4% in January)

Latest Discussions»Region Forums»Canada»Inflation cools in Februa...