Canada’s consumer price index (CPI) rose 1.9% year-over-year in January, according to figures released just moments ago, compared to 1.8% in December, better than expected, while the core CPI, which excludes gasoline prices, rose 1.7% year-over-year.

On a monthly basis, the index rose 0.1% in January after falling 0.4% in December, matching market expectations.