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Inflation fell in February. Why groceries and cellphone prices are to thank (Global)


The annual rate of inflation ticked down in February amid relief at the grocery store, Statistics Canada said Tuesday.

Overall inflation was 2.8 per cent year-over-year in February, down from 2.9 per cent in January, the agency said. The easing surprised most economists, who had expected an uptick in inflation for the month.

Prices at the grocery store were one of the biggest contributors to the step down, rising 2.4 per cent in February, down from 3.4 per cent in the previous month. This marks the first month since October 2021 that grocery inflation came in below the overall inflation rate . . . .

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