February inflation rate slows to 2.8% as price growth unexpectedly eases

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February inflation rate slows to 2.8% as price growth unexpectedly eases
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Canada's annual inflation rate unexpectedly fell to 2.8 per cent last month, amid sharp declines in cellular and internet services as well as slower grocery price growth.

Canada's annual inflation rate unexpectedly fell to 2.8 per cent last month, amid sharp declines in cellular and internet services as well as slower grocery price growth.

However, that's little relief to Canadians who continue to pay significantly higher prices for food than they did a few years ago. The federal agency says grocery prices increased 21.6 per cent between February 2021 and February 2024. The central bank's preferred core measures of inflation, which strip out volatility in prices, also fell last month.

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