Canada February Core Inflation Rate Fastest in Three Years


24/03/2012 09:54 AST  Bloomberg

Canadian inflation accelerated for a second month in February on higher costs for electricity and meat, as the central bank’s key price measure reached the fastest in more than three years.

The consumer price index rose 2.6 percent in February from a year earlier, following January’s 2.5 percent gain, Ottawa- based Statistics Canada said. The core rate, which excludes eight volatile items, accelerated to 2.3 percent, the fastest since December 2008. Economists surveyed by Bloomberg predicted the total rate would quicken to 2.7 percent and core inflation would be 2.2 percent, according to the median of 25 estimates.

The Bank of Canada said March 8 that inflation will be higher than it had forecast in January because of “reduced economic slack and higher oil prices.” Policy makers also said price gains will slow in the second quarter and inflation will then stay near 2 percent through next year.

For more on this Click Here

Global News
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT
Most Viewed Companies
Ticker Price Volume
EEC 79.95
SPIMACO 44.7 498,396
EMAAR 10 21,096,974
SABIC 110.9 3,330,141
SPM 34.56 1,000,070
ALKHODARI 73.09 5,371,776
RIBL 19.7 735,901
Recent News

Investcorp and Mumtalakat acquire PRO Unlimited
nvestcorp and Mumtalakat today announced that they have acquired PRO Unlimited, a provider of software and services that enable large enterprises to more effectively manage their contingentworkforce.

Kingdom Holding Q3 net profit rises 20.5pc
Saudi Arabia's Kingdom Holding , the investment firm owned by billionaire Prince Alwaleed bin Talal, posted a 20.5 per cent rise in third-quarter net profit on Thursday, on the back of higher investm

Details revealed for 3rd Annual Islamic Banking Summit Africa
More than 200 industry participants, regulators and thought leaders in the international Islamic banking and finance industry will be gathering on the 4th & 5th of November 2014 at the Djibouti Palac

“BARWA” REVEALES “ALAATEDA” AND SIGNS AN AGREEMENT WITH “PROMONTORIO”
News keep coming about Barwa Real Estate big projects which the group is now taking effective steps towards their implementation. Barwa Real Estate Group revealed today, in less than a week, its seco

Qatar’s UK investments hit £30bn
Qatar’s investment in the UK has reached an estimated £30bn. The country will continue to be one of the main investment destinations of Qatar, said the Minister of Economy and Commerce, H E Sheikh Ah

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?