NEWS

Inflation flat at 1% in February

03/20/2015 08:50 EDT | Updated 05/20/2015 05:59 EDT
The cost of living increased at a 1 per cent annual pace last month, unchanged from January.

Statistics Canada said Friday that gas prices continued their recent trend of dragging the overall inflation rate lower during the month, as gasoline was on average 21.8 per cent cheaper last month than it was in February of last year.

If the impact of cheap gas is stripped out, the inflation rate would have been 2.2 per cent, the data agency said.

Outside of gasoline, just about everything went up in price during the month.

The report found the higher cost for food and shelter led the upward pressure on prices. The price of meat rose 12.4 per cent compared with a year earlier, while natural gas increased 10.8 per cent.

The rate of inflation increased in six provinces over the 12 previous months, with Ontario registering the biggest consumer price gains at 1.3 per cent.

More to come

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