Сonsumer price index in January climbed 0.5% year-over-year according to StatCanada. That is the third month in a row consumer prise index being lower than 1%. in December thi index managed to grow only to 0.8%. Excluding gasoline, January CPI rose 0.6%.
The annual core rate climbed 1.0%, matching market expectations.
On a month-to-month basis, CPI and core CPI both rose 0.1%.
StatCanada said Friday that 1.8% drop in gasoline prices was a deterrent to growth of the annual inflation rate. Excluding gasoline, January CPI rose 0.6%. Food prices got extra 1.1%, while clothing and footwear prices were down 1.6%.
On a seasonally adjusted level, Canada's CPI decreased 0.1% in January from December.