OTTAWA – The country’s inflation rate rose 1.0 per cent in January compared with a year ago as the annual pace of inflation picked up, according to Statistics Canada.
The agency largely attributed the acceleration to higher prices for durable goods as well as rising gas prices.
January’s reading compared with a year-over-year increase of 0.7 per cent in December.
Economists on average had expected a year-over-year increase of 0.9 per cent for January, according to financial data firm Refinitiv.
On a seasonally adjusted, monthly basis, the rate of inflation rose 0.4 per cent in January.
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