Canada's consumer inflation in February soared 5.7% annually -- its largest increase since August 1991, Statistics Canada said Wednesday, APA reports citing Anadolu Agency.
While the annual increase was expected to come in at 5.5%, according to market consensus, annual consumer inflation in January stood at 5.1%.
It is the second consecutive month that annual consumer price index (CPI) in the country exceeded 5%.
"Consumers paid higher prices for gasoline and groceries in February 2022 compared with the same month a year earlier. Shelter costs continued to trend higher, rising at the fastest year-over-year pace since August 1983," the agency said in a statement.
On a monthly basis, CPI rose 1% in February, the largest increase since February 2013.
Market expectation for monthly CPI was to increase 0.9% in February after rising 0.9% in January from the previous month.
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