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Statistics Canada Reporting Drop in Inflation

Tuesday, 21 March 2023 at 11:49

By Linda Morgan

Inflation dropped from 5.9 percent in January to 5.2 percent last month

The annual inflation rate dropped in February. 

According to Statistics Canada, the rate went from 5.9 percent in January to 5.2 percent last month. 

This is the largest drop since April 2020, however, grocery prices are still outpacing overall inflation. 

Last month, food prices were ten percent higher on a year over year basis. 

This is the seventh month in a row that consumers have been hit with double digit increases. 

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