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Canada's inflation shoots up to 2.6% as sales tax break ends
- Canada's annual inflation rate increased to 2.6 percent in February, according to Statistics Canada.
- This rise followed the end of the federal government's temporary tax break mid-month, which previously kept inflation at 1.9 percent in January, as reported by Statistics Canada.
- Dining out significantly contributed to the inflation increase, with restaurant food prices bouncing back after the tax holiday ended, according to Statistics Canada.
- Travel tour prices surged by 18.8 percent last month due to high demand, as noted by Statistics Canada.
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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.
·Ireland
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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…
Coverage Details
Total News Sources79
Leaning Left21Leaning Right6Center13Last UpdatedBias Distribution53% Left
Bias Distribution
- 53% of the sources lean Left
53% Left
L 53%
C 32%
15%
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