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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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National Post

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

14 hours ago·Canada

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The Star Kuala Lumpur

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

1 day ago·Malaysia

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Wolf Street

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.

1 day ago

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The Toronto Star

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%.

2 days ago·Toronto, Canada

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RTÉ

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.

2 days ago·Ireland

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