Canada’s inflation rate was up in January

Stats Canada says rising gasoline prices last month helped propel the country’s annual inflation rate up 2 notches to 2.5 percent.  The agency says consumer prices overall rose by half a point from December, almost reversing a similar one-month drop that month.  The big trigger to both the annual and monthly increase was gasoline, which registered a one-month increase of 2.8 percent in January.  On an annual basis, inflation is being mostly fuelled by two items, energy prices, which are up 6.5 percent from last January, and food prices, which are up 4.2 percent over the past 12 months.

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