Figures released Friday morning revealed that the cost of living increased in January to the highest annual rate in more than a year.
The data agency reported that Canada's inflation rate -- now at 2% -- is at its highest level since October 2014. In December, the Consumer Price Index was 1.6%
Gas prices proved the main agent of the increase, more expensive in January than they were the same month a year earlier for the first time since the oil price slowdown that began in late 2014.
Higher fruit and vegetable prices also factored in, growing 18% annually in January after jumping 13% in December. The sub-sector that includes broccoli, cauliflower, celery and peppers increased by more than 22%, its highest since 2009.
The decreasing value of the Canadian dollar is impacting food prices perhaps more than anything else because so much of what Canadians eat is imported, or has other costs that are associated with the currency.
All provinces posted higher inflation rates. Newfoundland and Labrador and New Brunswick co-led the way, each with a rate of 2.4%. Quebec had the lowest inflation rate at 1.6%.
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