The Consumer Price Index (CPI) rose 2.6% year over year in February, following an increase of 1.9% in January.
While faster price growth was broad-based in February, the end of the goods and services tax (GST)/harmonized sales tax (HST) break partway through the month contributed notable upward pressure to prices for eligible products. Slower price growth for gasoline prices (+5.1%) moderated the all-items CPI acceleration.
On a monthly basis, the CPI rose 1.1% in February. On a seasonally adjusted monthly basis, the CPI rose 0.7%.
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