Inflation increased 2.2% in Canada over the month of February, its highest rate since October 2014, and up from 1.7% just one month before.
Upward price pressures came primarily from energy costs, which increased 5.3%. Year-on-year, gasoline has increased 12.6%. Other price drivers include restaurant food (4%), passenger vehicles (2.5%), and mortgage interest cost (2.3%).
Statistics Canada’s core inflation index also picked up speed to climb just over 2%. The index omits volatile factors such as energy costs to indicate a longer term trend of where inflation is heading.