News Karnataka
Thursday, March 28 2024
Cricket
North America

Ottawa: Canada’s Consumer Price Index rises 5.2% in Feb

Ottawa: Canada's Consumer Price Index rises 5.2% in Feb
Photo Credit : IANS

Ottawa: Canada’s Consumer Price Index (CPI) rose 5.2 per cent year over year in February, following a 5.9 per cent increase in January, the largest deceleration in the headline CPI since April 2020, the national statistical agency said.

Statistics Canada said on Tuesday that the deceleration in February was due to a base-year effect, for the second consecutive month, which is attributable to a steep monthly increase in prices in February 2022, reports Xinhua news agency.

Excluding food and energy, prices were up 4.8 per cent year over year in February 2023, following a 4.9 per cent gain in January, while the all-items excluding mortgage interest cost rose 4.7 per cent, after increasing 5.4 per cent in January, it said.

According to Statistics Canada, on a monthly basis, the CPI was up 0.4 per cent in February, following a 0.5 per cent gain in January.

Compared with January, Canadians paid more in mortgage interest costs in February, which was partially offset by a decline in energy prices.

On a seasonally adjusted monthly basis, the CPI rose 0.1 per cent.

While inflation has slowed in recent months, having increased 1.2 per cent compared with six months ago, prices remain elevated.

Compared with 18 months ago, for example, inflation has increased 8.3 per cent, Statistics Canada added.

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

To get the latest news on WhatsApp