In Canada, the Core Consumer Price Index (CPI) for the month of February 2024 has shown a decrease compared to the previous month. The latest data released on 19 March 2024 indicates that the Core CPI has decreased to 2.1% in February, down from 2.4% in January 2024. The Core CPI measures the change in the price of goods and services, excluding the most volatile items such as food and energy.
This comparison is on a year-over-year basis, where the current indicator is compared to the same month a year ago. The decrease in the Core CPI suggests a slight slowdown in the overall price level for consumers in Canada. Economists and policymakers will closely monitor these inflation trends as they provide insights into the country's economic health and may impact future monetary policy decisions.
