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Bloomberg
Consumer price inflation in Canada ticked up in January, while the average of the central bank’s core measures slowed down.
The overall Consumer Price Index (CPI) was up 2.4% from a year earlier, after a 2.2% gain in December. That beat economist expectations for 2.3% increase. Excluding gasoline, inflation rose 2% in January. On a monthly basis, inflation rose 0.3%.
Core inflation — often seen as a better measure of underlying price pressure than the headline figure — edged down to 2.03% from 2.07% in December. That missed economist estimates for 2.1%.
Wednesday’s report was a mixed picture between headline and core measures. However, all indicators still track around the Bank of Canada’s 2% target, suggesting policy makers would need to look at other economic indicators when considering any change to interest rates.