January’s inflation figures released

Higher prices at the pump contributed to Canada’s inflation rate ticking back up to 1.9 per cent last month.  Statistics Canada says gas prices rose 8.6 per cent in January compared with a year ago, offsetting the federal government’s two-month tax break that ended over the weekend.  It says the inflation rate would have jumped to 2.7 per cent without the tax break on restaurant meals and a slew of items.  Restaurant prices dropped 5.1 per cent from a year ago.  As for the provincial inflation rate, it was 1.3 percent in January, up from 0.4 percent in December.