Inflation down to 2.2 per cent in February
Posted March 18, 2011 7:06 am.
This article is more than 5 years old.
OTTAWA – Canada’s annual inflation edged down one-tenth of a point to 2.2 per cent in February.
Statistics Canada said energy prices, particularly the cost of gasoline, contributed to keeping inflation above the Bank of Canada’s ideal two-per-cent level.
But the central bank’s other key measure — underlying core inflation that excludes volatile items like energy — fell to 0.9 per cent.
Prices were higher in February in six of the eight major components tracked by the agency, although such items as women’s clothing, footwear and travel tours cost less than a year ago.
On a month-to-month basis, consumer goods were 0.3 per cent more expensive last month than in January, mostly due to higher energy and gasoline prices.
On a regional basis, Nova Scotia remained the province with the highest inflation rate at 3.4 per cent. Many people in that province use oil and other fuel to heat their homes.
Alberta continued to enjoy the most stable prices, with an inflation rate of 1.2 per cent.
Drivers in every province except Manitoba faced double-digit price increases for gasoline on a year-over-year basis.
