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 30.9 1,844,854
SAICO 46.9 468,156
ALMARAI 86.75 152,155
SABIC 80.75 5,741,897
RIBL 16.9 264,001
SPIMACO 41.2 404,982
STC 63.75 172,894
Recent News

Gulf states refine approach
Arabian Gulf states are expanding their refineries to export more value-added products, to develop a downstream industry and diversify income away from oil and gas, and to meet rising local demand fo

Taqa hails Bergermeer gas project milestone ahead of annual results
Abu Dhabi National Energy Company, known as Taqa, said its huge gas storage project at Bergermeer in the Netherlands, had reached a milestone and would start filling tanks with customers’ gas on Wedn

Australian minister to push GCC trade agreement
Australia’s Minister for Trade, Andrew Robb, is expected to push the UAE, Saudi Arabia and Kuwait on finalising a free-trade agreement (FTA) with the Gulf Cooperation Council (GCC) on a visit to the

GCC corporates post 6% growth in second half
The GCC’s corporates posted a six per cent growth in the second half of 2014 compared to the same time in the previous year, with total earnings in the period coming in at $32 billion (Dh117.4 billio

National Bank of Kuwait sets IPTs for benchmark dollar Tier 1 bond
National Bank of Kuwait (NBK), the Gulf state’s largest lender, has set initial price thoughts for a benchmark US dollar perpetual Tier-1 bond issue, which could price as early as Wednesday, a docume

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?