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Statistics Canada reports pace of inflation ticked higher in February

Statistics Canada's offices in Ottawa are shown on March 8, 2019. THE CANADIAN PRESS/Justin Tang

OTTAWA — The annual pace of inflation edged higher in February as gains in most sectors offset lower gasoline prices.

Statistics Canada says the consumer price index in February climbed 1.5 per cent compared with a year ago.

The move compared with a year-over-over increase of 1.4 per cent in January.

Helping push costs higher was a 8.1 per cent increase in mortgage interest costs and a 14.3 per cent rise compared with a year ago in the cost of fresh vegetables.

The cost of gasoline was down 11.9 per cent compared with the same month last year as overall energy prices slipped 5.7 per cent.

Excluding gasoline, the annual pace of inflation held steady at 2.1 per cent, the same as January.

 

The Canadian Press