Canada's inflation rate rises

 

 

Canada's inflation rate rises. Inflation rose to 2.6 per cent last month, according to a report.
Statistics Canada attributed the rise in inflation to the temporary tax holiday that ended last month.

Consumer prices in Canada rose to 2.6 per cent in February. It was 1.9 per cent the previous month. StatCan said that the end of the GST/HST holiday on February 15 caused some products to rise significantly. During the tax holiday, there was a significant decrease in the prices of some groceries and restaurant meals. Restaurant food prices alone decreased by 1.4 per cent. However, after the tax holiday ended, restaurant food prices jumped back to their previous levels, causing inflation to rise. There was no significant increase in fuel prices, which was a relief for the people. All provinces recorded an increase in the consumer price index last month. The largest increases were recorded in Ontario and New Brunswick.