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Canadian Consumer Price Index Rose at a Faster Rate in February

March 17, 2021 by Forex Winner Leave a Comment

Canadian Consumer Price Index

Canadian Price Index rose at 1.1%, faster than January’s 1.0%, according to Statistics Canada press release. On a seasonally adjusted monthly basis, the CPI rose 0.1% in February.

Canadian Consumer Price Index Rose at a Faster Rate in February
  • Gasoline prices supported consumer price growth, recording 5.0% gains on a year over year basis.
  • Gasoline prices increased for the third consecutive month, up 6.5% in February compared to January’s 6.1% gain.
  • Excluding gasoline, the CPI rose 1.0% in February, down from a 1.3% increase in January.   
  • Prices for consumer goods rose 1.0%, a faster year over year pace compared to January’s 0.1% gain, driven by higher gasoline prices.
  • The price increase for services slowed year over year, after gaining 1.2% in February, compared to January’s 1.9%.
  • Lower clothing prices which fell 7.1% contributed to a year over year price decline for semi-durable goods which fell 3.5% in February.

Canadian dollar is currently declining against the U.S dollar. USDCAD is up 0.25%

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