FX & CFD trading involves significant risk
Statistics Canada released consumer price inflation data on Friday. Canadian consumer price inflation increased 0.9% in February, beating expectations for a 0.7% rise, after a 0.2% drop in January.
On a yearly basis, the consumer price index remained unchanged at 1.0% February. It was the lowest since November 2013.
The consumer price index was driven by price increases in seven of the index's eight major components.
Gasoline prices plunged 21.8% in February, while natural gas rose 10.8%.
Food prices increased 3.9%.
Canadian core consumer price index, which excludes some volatile goods, increased 0.6% in February, exceeding expectations for a 0.5% gain, after a 0.2% rise in January.
On a yearly basis, core consumer price index in Canada declined to 2.1% in February from 2.2% in January.
The Bank of Canada's inflation target is the range of 1% to 3%.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.