Canada's Inflation Rate Up to 2.6% in February

Led by increases in energy and food, consumer prices rose 2.6% in the 12 months to February after increasing 2.5% in January., Statistics Canada 3/23/2012 11:23:31 AM

The cost of energy advanced 7.2% in the 12 months to February, led by increases in prices for gasoline (+8.9%) and electricity (+8.7%). The February increase in energy followed a 6.5% gain in January.

Food prices rose 4.1% on a year-over-year basis in February, following a 4.2% increase in January.

The Consumer Price Index (CPI), excluding food and energy, increased 1.7% in the 12 months to February, as passenger vehicle insurance premiums and homeowners' replacement costs rose. This followed a 1.6% gain in January.

On a year-over-year basis, prices rose in seven of the eight major components in February. Transportation and food continued to post the largest increases.