Canada’s inflation rose 0.1 per cent to 1.9 per cent in January, led by higher gasoline and natural gas prices, said Statistics Canada on Tuesday.
Although core inflation measures were “a little stronger than anticipated,” commented CIBC Economics analyst Andrew Grantham, the overall prices hike was in line with forecasts.
Prices at the pump increased 8.6 per cent year-over-year while natural gas cost 4.8 per cent more.
These price increases were partly offset by lower prices for food and some consumer goods targeted by a recent temporary tax break, according to Statistics Canada.
The agency said the cost of buying new passenger vehicles edged up for the first time in eight months. Mortgage interest costs and rents, as well as property taxes, also rose.
Canadians paid less for restaurant meals, alcoholic beverages, telephone services, air transportation, and toys and games.
