Home Breadcrumb caret Economy Breadcrumb caret Economic Indicators Inflation cooled in February, but beat expectations The consumer price index rose by 2.2% By The Canadian Press | March 18, 2020 | Last updated on March 18, 2020 1 min read © Cathy Yeulet / 123RF Stock Photo Statistics Canada says the consumer price index in February rose 2.2% compared with a year ago. The increase comes after a year-over-year increase of 2.4% in January. Economists had expected a reading of 2.1% for February, according to a poll by financial markets data firm Refinitiv. Statistics Canada says prices rose on a year-over-year basis in seven of the eight major components it tracks, with transportation and shelter prices contributing the most to the overall increase. Prices for household operations, furnishings and equipment fell for the fifth consecutive month, largely due to lower prices for telephone services and household durable goods. Excluding gasoline, the annual pace of inflation for February came in at 2.0%, matching the increase in December and in January. The Canadian Press The Canadian Press is a national news agency headquartered in Toronto and founded in 1917. Save Stroke 1 Print Group 8 Share LI logo