Core measure above 2% for first time in six years
Poloz highlights headwinds facing the Canadian economy as another reason for holding the line on rates.
Pump prices, airline tickets help propel Canada’s annual inflation rate to 2.3%
An aging population that takes on less debt is less sensitive to changes in interest rates
The main driver that pushed up year-over-year consumer prices in February was the higher cost of gasoline
Core inflation continues to heat up, reinforcing expectations the Bank of Canada will continue raising interest rates
The 0.1% gain followed a sharper 0.4% increase in November
The November inflation reading followed a 1.4% increase in consumer prices in October
The consumer price index was up 1.4% in October compared with a year ago, following a 1.6% increase in September
Inflation has been in the lower end of the central bank’s itarget bands of 1% to 3% for quite some time