According to Statistics Canada, the Canadian Consumer Price Index (CPI) rose 1.4 percent in the 12 months to February, after increasing 2.0 percent in January.
Excluding gasoline, the CPI rose 1.9 percent year over year in February, following a 2.0 percent increase the previous month.
Prices rose in six of the eight major components on a year-over-year basis in February, with the food and shelter indexes contributing the most to the rise in the CPI. The transportation index, which includes gasoline, and the clothing and footwear index declined on a year-over-year basis in February.
The household operations, furnishings and equipment index rose 1.8 percent in the 12 months to February. The telephone services index was down less on a year-over-year basis in February (-0.4 percent) than in January (-2.5 percent); the index was up 2.1 percent on a monthly basis. On a year-over-year basis, the Internet access services index increased 0.9 percent in February, after rising 4.9 percent the previous month.
The transportation index decreased 0.5 percent year over year in February, following a 2.2 percent increase the previous month. This turnaround was mainly attributable to the year-over-year decline in gasoline prices. The purchase of passenger vehicles index was up 5.0 percent on a year-over-year basis in February, its largest gain since September 2010.