Gasoline prices are up again at South Shore pumps. If you pull into a station today, you will end up paying 2.5 cents more for a litre than you did yesterday. The price today is $1.39.8 . This just adds fuel to Stats Canada's report out this morning claiming higher gasoline prices right across the country last month drove up the inflation rate. The annual inflation rate in February rose to 2.6 per cent -- up a-10th of-a-percentage point from January. Pump prices last month were 2.6 per cent higher than they were in January, and 8.9 per cent higher than they were in February of last year. In the past 12 months, food prices jumped 4.1 per cent. StatsCan says core inflation rose two notches to 2.3 per cent, which is higher than the Bank of Canada's target line of two per cent.
Friday, March 23, 2012
Higher Gas Prices Fuel Inflation
Gasoline prices are up again at South Shore pumps. If you pull into a station today, you will end up paying 2.5 cents more for a litre than you did yesterday. The price today is $1.39.8 . This just adds fuel to Stats Canada's report out this morning claiming higher gasoline prices right across the country last month drove up the inflation rate. The annual inflation rate in February rose to 2.6 per cent -- up a-10th of-a-percentage point from January. Pump prices last month were 2.6 per cent higher than they were in January, and 8.9 per cent higher than they were in February of last year. In the past 12 months, food prices jumped 4.1 per cent. StatsCan says core inflation rose two notches to 2.3 per cent, which is higher than the Bank of Canada's target line of two per cent.
