The Consumer Price Index (CPI) in Canada rose by approximately 1.8% year-on-year in February, according to figures released moments ago, compared to 2.3% in January. The monthly index rose by 0.5%.

The biggest contributor to the slowdown in inflation in February came from a 14.2% year-on-year decrease in gasoline prices and a 17.1% decrease in natural gas prices. Meanwhile, prices for food purchased from restaurants rose by 7.8%, and prices for groceries purchased from supermarkets increased by 4.1%.