Statistics Canada says the consumer price index rose by one per cent in January on a year-over-year basis.
The national agency said that is up from a year-over-year increase of 0.7 per cent recorded in December.
StatCan says the acceleration was largely due to higher prices for durable goods and rising gasoline prices.
Gasoline prices rose for the second consecutive month, up just over six per cent in January compared with December.
If you exclude gasoline, inflation rose by 1.3 per cent in January, up from a one per cent increase in December.
Passenger vehicle prices rose at a faster pace in January compared to December while meat and fresh vegetable prices slowed.
Consumer Price Index, January 2021: The CPI rose at a faster pace in January (+1.0%) year over year than in December (+0.7%). https://t.co/5Ig5JrnCJh pic.twitter.com/zNPXxfdppe
— Statistics Canada (@StatCan_eng) February 17, 2021
