Lower gas prices help Canada’s inflation rate slow to 1.4 per cent in January GlobeBusiness
Economists on average had expected an increase of 1.5 per cent for January, according to Thomson Reuters Eikon.Compared with a year earlier, Canadians paid 14.2 per cent less last month for gasoline, 9.2 per cent less for computer devices and 3.2 per cent less for traveller accommodation.
On the other hand, year-over-year prices last month were 13.2 per cent higher for fresh vegetables, 7.8 per cent higher for mortgage interest costs and 5.3 per cent higher at restaurants.The report also says the average of the Bank of Canada’s three core inflation readings, which omit more-volatile items like gas, was 1.9 per cent in January for a third straight month.
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