Inflation rate largely unchanged for January 2011

Statistics Canada’s Consumer Price Index for the month of January indicates that consumer prices rose by 2.3% on a year-over-year basis, down very slightly from the 2.4% year-over-year inflation rate recorded for December 2010.

The largest single contributor to inflation for both December and January was energy prices, which rose by 10.5% for December and 9.0% for January. When energy prices are excluded from the calculation, the year-over-year inflation rate for both December and January stood at 1.7%.

More details of the inflation picture for January, by province and by economic sector, can be found in the January Consumer Price Index release, available on the StatsCan Web site at http://www.statcan.gc.ca/subjects-sujets/cpi-ipc/cpi-ipc-eng.htm.

 

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