Canada Inflation Accelerates Slightly to 1.9% in January

By Robb M. Stewart

OTTAWA--Canada's annual inflation rate picked up slightly in January with a rise in gasoline and natural gas prices.

The country's consumer price index rose 1.9% from a year earlier, Statistics Canada said Tuesday. That was in line with market expectations, according to economists at TD Securities.

That returns the pace of inflation to where it was in November after cooling to a three-month low of 1.8% in December. Inflation has now been at or below the central bank's 2% target six months in a row.

On a month-over-month basis, prices rose 0.1%, matching the consensus forecast. On a seasonally adjusted basis, CPI was also up 0.1% from the previous month.

Meanwhile, the average of the Bank of Canada's preferred trimmed mean and weighted median measures for underlying inflation advanced 2.7% on-year, heating up from an upwardly revised 2.55% the month before.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

02-18-25 0851ET