US EditionCanada'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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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…
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