Canada's consumer inflation eases to 5.2% in February

By Ovunc Kutlu

ISTANBUL (AA) – Canada's annual consumer inflation rose 5.2% in February, easing from the annual gain seen in the previous month, the country’s statistical authority said on Tuesday.

While the figure came lower than the market expectation of 5.4%, it is a slowdown from the 5.9% year-on-year gain in January.

Annual consumer inflation has also significantly slowed its pace since an 8.1% gain in June, which was the highest in 39 years.

Excluding food and energy, consumer prices rose 4.8% on a yearly basis in February, following a gain of 4.9% in January, according to Statistics Canada.

On a monthly basis, the consumer price index rose 0.4% in February, following a 0.5% increase in January. The market expectation for the index was to show a 0.5% monthly increase last month.

"While inflation has slowed in recent months, having increased 1.2% compared with six months ago, prices remain elevated. Compared with 18 months ago, for example, inflation has increased 8.3%," Statistics Canada said in a statement.