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
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | News Archive
Most Viewed Companies
Ticker Price Volume
SAGRINSURANCE 31.49 861,831
SABIC 101.79 9,876,498
ALMARAI 91.44 402,875
RIBL 17.81 1,606,485
JULPHAR 2.95 40,000
EMAAR 8.04 8,809,129
GFH 0.07
Recent News

Russia to Meet OPEC in Early June in Vienna
Russia will meet the Organization of the Petroleum Exporting Countries in early June in Vienna, an Energy Ministry spokeswoman said Monday.

Deputy Prime Minister Arkady Dvorkovich said earli

Dollar Weakens Ahead of Fed Policy Meeting
The dollar fell against the euro and the yen on Monday amid concerns the Federal Reserve’s policy-making committee meeting this week could offer little guidance on the timing of its next interest rat

Dollar Slumps to Two-Month Low on Signs Stall in Growth Persists
The dollar fell to its lowest level in almost two months as U.S. economic reports added to speculation that last quarter’s sluggish growth may persist.

The greenback fell against most of its

Pakistan’s forex reserves to cross $20bn: Dar
Finance Minister Ishaq Dar has said the positive economic indicators of our foreign exchange reserves will surpass $ 20 billion limit while inflation rate will also come down.

Addressing a

Euro edges higher as Greece revamps debt negotiating team
The euro scaled a three-weak peak against the dollar on Monday, on optimism about Greece's prospects after the government reshuffled its bailout negotiating team as the cash-strapped country seeks to

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?