Canadian CPI Increases 2.6% Year-Over-Year in February

On Tuesday, Statistics Canada (StatCan) reported that the Consumer Price Index (CPI) rose 1.1% in February. On a seasonally adjusted basis, the CPI increased 0.7%.

Year-over-year, the CPI increased 2.6%, following a 1.9% increase in January.

While faster price growth was broad-based in February, the end of the goods and services tax (GST)/harmonized sales tax (HST) break partway through the month contributed notable upward pressure to prices for eligible products. Slower price growth for gasoline prices, up 5.1%, moderated the all-items acceleration.