Inflation rate falls slightly
Posted Feb 18, 2011 07:43:28 AM.
This article is more than 5 years old.
Statistics Canada says annual inflation edged down one-tenth of a point to 2.3% in January.
The agency says energy prices, particularly the cost of gasoline, as well as car insurance, home replacement costs and restaurant meals contributed to keeping inflation above the Bank of Canada’s ideal 2% level.
But the central bank’s other key measure, underlying core inflation, that excludes volatile items like energy, remained steady at 1.4%.
Prices were higher in January in seven of the eight major components tracked by the agency, although such items as women’s clothing, footwear, sports equipment, natural gas and travel tours cost less than a year ago.
On a month-to-month basis, consumer goods were 0.3% more expensive last month than in December, mostly due to higher gasoline prices.
