Published 9 months ago • loading... • Updated 9 months ago

Canada's inflation shoots up to 2.6% as sales tax break ends

Canada's annual inflation rate rose sharply to 2.6% in February as the federal government's temporary tax break ended mid-month, according to Statistics Canada.
This increase is significantly higher than the 1.9% recorded in January, when the tax break contributed to lower prices in January, according to Statistics Canada.
Canadians experienced a significant 18.8% increase in travel tour prices in February, attributed to high demand for travel, according to Statistics Canada.
Bank of Canada Governor Tiff Macklem stated that tariffs are expected to impact inflation through various economic factors, including shifts in consumption and supply chains.

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National Post

Lean Right

Annual inflation rate jumps to 2.6% in February with end of tax holiday: StatsCan

February’s figures well ahead of consensus among economists, which called for 2.2 per cent inflation in the month

9 months ago·Canada

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The Star Kuala Lumpur

Right

Canada's CPI rises 2.6 pct in February

OTTAWA, March 18 (Xinhua) -- Canada's Consumer Price Index (CPI) rose 2.6 percent in February year over year, following an increase of 1.9 percent in January, Statistics Canada said Tuesday. Read full story

9 months ago·Malaysia

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Wolf Street

Center

Not Just in the US: Inflation Dishes Up Another Nasty Surprise in Canada, Throwing Further Rate Cuts into Doubt

But it’s not in housing; it’s spread across much of the economy. And it’s not just the end of the temporary GST (goods & service tax) holiday.

9 months ago

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The Toronto Star

Lean Left

Sudden spike in February inflation ‘complicates’ the Bank of Canada’s rate-cutting campaign, economists say

Canada’s Consumer Price Index was 2.6% higher in February; a consensus of economists surveyed by Bloomberg had expected to see the CPI rise by 2.2%.

9 months ago·Toronto, Canada

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RTÉ

Center

Canada's inflation jumps to eight-month high

Canada's annual inflation rate showed a surprise jump to 2.6% in February, surpassing expectations as a sales tax break that ended in the middle of last month pushed prices higher amid an already broad-based increase, data showed today.

9 months ago·Ireland

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Hola News

Center

Inflation in Canada increased by seven tenths to 2,6 % in February following the return of VAT

Toronto (Canada), 18 Mar (EFE).- The inflation rate in Canada increased in February seven tenths, to 2.6% year-on-year, after the end of the temporary suspension of value added tax (VAT) on some products, said on Tuesday the public agency Statistics Canada (EC). The increase was higher than expected by analysts who now anticipate that inflation in the coming months will remain around 3% as the trade war with the US impacts supply chains and pric…

9 months ago

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