March 21st, 2026
Statistics Canada has published its latest rate of inflation numbers and it has dipped below two per cent in February. The dip comes as the end of last year’s federal “tax holiday”. The reading came in at 1.8 per cent year-over-year, that half a percentage point lower than January’s figures.
Inflation on food purchased from stores cooled to 4.1 per cent in February from 4.8 per cent the month previous. Fresh and frozen beef saw its annual price hike cool to 13.9 per cent last month, nearly five percentage points lower than in January. However, the cost of gasoline crept higher at the end of the month in the lead up to the war in the Middle East spiking prices.
The Bank of Canada will be analyzing the latest price figures as the central bank is set for an interest rate decision on Wednesday.