Canada consumer price index rises in Dec last finance na us/canada?
The root cause of this inflation was attributed to sudden rise in energy prices as shown in the said report.
This year over year consumer prices gain was the fastest since October 2014, a report in Calgary Herald said.
2.1 percent gain in gasoline prices over period of one year was held solely responsible for this higher inflation rate as well as new carbon tax.
Alberta levied 4.5 cent a litre carbon tax effective from Jan 1 consequently. It is reportedly one of the biggest increases in gasoline prices, a rise of 15 percent in one month.
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Ontario's stand was a bit unclear as it had introduced new cap and trade system that was yet to reflect in price system.
However gasoline prices shot up by 7.8 percent in January this year which was up by 20 percent from a year earlier. This was about a national average.
Consumer prices excluding gasoline were up by 1.5 percent compared to the corresponding period of last year.
Nationally Canada's inflation rate rose to the highest in more than two years to 2.1 percent.
Prices on average across the country rose by more than a fifth compared to last year.
(Reporting by Chandan Som )
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