Canada inflation eases to 2.3% in January as gasoline drags, food still costly
Latest news on WhatsApp أجدد الأخبار على واتسابCanada's annual inflation rate cooled to 2.3% in January, down from 2.4% in December, as lower gasoline prices helped offset persistent pressure from higher food costs, according to data released Tuesday by Statistics Canada.
Gasoline prices fell 16.7% year over year in January, the largest factor behind the slower headline inflation. On a month over month basis, the Consumer Price Index was unchanged, the agency said.
Excluding gasoline, inflation held at 3.0% year over year, matching December's pace. Food prices rose 7.3% from a year earlier, with restaurant meal prices up 12.3%, while food purchased from stores increased 4.8%.
Underlying inflation measures eased modestly. CPI excluding food and energy rose 2.4% year over year. The Bank of Canada's preferred core measures also edged down, with CPI-median at 2.5% and CPI-trim at 2.4%, pointing to softer broad based price pressures.
Shelter costs continued to decelerate, rising 1.7% year over year, with rents up 4.3% and mortgage interest costs up 1.2%. Markets are watching whether the inflation profile reinforces a steady policy stance after the Bank of Canada held its policy rate at 2.25% in its latest decision.
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Tahani Elghazaly5258 Posts
