In Canada, the Core Consumer Price Index (CPI) remained steady in February 2024, holding at a growth rate of 0.1%. This data, which reflects the change in prices for goods and services excluding the volatile food and energy sectors, was released on 19th March 2024. The comparison provided for this indicator is month-over-month, showing that there was no increase or decrease in the core CPI from the previous month.
The unchanged core CPI indicates that inflation in Canada stayed relatively stable in February compared to January 2024. Economists closely monitor core inflation as it provides insights into underlying price pressures in the economy. The data being unchanged suggests that the Bank of Canada may continue to assess economic conditions before making any adjustments to monetary policy.
