Canada's inflation rises in February

Canada’s inflation rises in February

Canada's annual inflation rate rose from 2% in January 2005 to 2.1% in February 2005, according to data released by Statistics Canada. Statistics Canada indicates that higher gasoline prices were a prime contributor to the year-on-year increase in consumer prices. The inflation figure also shows that the Bank of Canada may not rush to raise interest rates in April 12, since inflation is at the mid-point of the 1 to 3% target range.