Statistics Canada set to release its latest inflation reading this morning

OTTAWA –

Statistics Canada is ready to launch its newest report this morning on how a lot the price of residing is rising.

The federal company will launch its shopper value index for February.

The general annual inflation price was 5.9 per cent in January, however the year-over-year enhance for meals costs was 10.4 per cent.

The inflation report comes forward of the federal price range on March 28.

The Bank of Canada is working to carry the annual inflation price again to its goal of two per cent.

The central financial institution left its key curiosity goal unchanged at 4.5 per cent earlier this month, the primary time it didn’t elevate the speed because it started rising it final yr.

This report by The Canadian Press was first printed March 21, 2023.