NEWS
03/18/2016 08:48 EDT | Updated 03/19/2017 01:12 EDT

Lower gasoline prices push Canada's inflation rate lower to 1.4% in February

OTTAWA — Canada's annual inflation rate slowed to 1.4 per cent in February, mostly because of a decline in gasoline prices from the same time last year.

Excluding gasoline, Statistic Canada's consumer price index would have been up to 1.9 per cent last month.

Statistics Canada says food was a major inflationary factor in February.

Consumers paid 3.9 per cent more for food last month compared with February 2015.

In total, six of the eight major components of the consumer price index were up.

Apart from the transportation index that includes gasoline, the only other component to decline was clothing and footwear — down 1.3 per cent.

The Canadian Press