OTTAWA — 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.
Statistics Canada released its February consumer price index report Tuesday, which shows price growth softened for a second consecutive month.
The federal agency says prices for wireless services were down 26.5 per cent and internet prices fell 13.2 per cent from a year ago. Meanwhile, housing costs continue to put upward pressure on inflation, with mortgage interest costs up 26.3 per cent and rent up 8.2 per cent annually. "The core measures are the ones that are really important from the Bank of Canada's perspective, because they exclude things that aren't a good signal of underlying demand," Judge said.
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