The consumer price index (CPI) rose 5.9% year over year in January in Canada, after posting a 6.3% increase in December, according to what Statistics Canada reports. Tuesday.
However, the federal agency noted that food prices, which include those purchased at grocery stores and those sold at restaurants, rose at a slightly faster pace year-over-year in January, by 10.4 %, compared to 10.1% in December. The federal agency points to significant increases in the prices of chicken, bakery products, dairy products and fresh vegetables.
Mortgage interest costs also continued to rise last month. As for housing prices, they rose from one year to the next at a slower pace; prices rose 6.6% in January after rising 7% in December.
Excluding food and energy, prices rose 4.9% year over year in January and excluding mortgage interest cost, 5.4%. In both cases, price growth slowed year over year compared to December.
In general, prices rose at a slower pace in January than in December in nine provinces. The only province to show an acceleration in price growth last month was New Brunswick, where gasoline prices rose the most relative to the rest of Canada.
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