Statistics Canada says the annual inflation rate cooled slightly in February 2023. (Photo: Canadian Press)
Canada’s annual inflation rate cooled in February
Mar 21, 2023 | 6:50 AM
OTTAWA, ON – The annual pace of inflation cooled in February 2023 as it posted its largest deceleration since April 2020.
Statistics Canada says its consumer price index in February was up 5.2 per cent compared with a year earlier.
The reading compared with an annual inflation rate of 5.9 per cent in January and was the lowest reading since January 2022 when it was 5.1 per cent.
Statistics Canada noted that the decline was due to a steep monthly increase in prices in February 2022.
