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Inflation hits 2.6%

Statistics Canada says gasoline and food continued to push up inflation in February to 2.6%, the figure's second consecutive monthly increase.

The overall cost of consumer goods rose by 0.1% during the month from a year ago, after rising by two-10ths of a point in January.

As well, core inflation -- the underlying pressure on consumer goods, excluding volatile items such as energy and fresh foods -- rose two notches to 2.3%, above the Bank of Canada's 2% target line.

The big mover was gasoline, which rose 2.6% from January, and was 8.9% higher than a year ago.

Meanwhile, the cost of food continues to increase at elevated rates -- it was 4.1% higher than a year ago.

Overall, prices increased in seven of eight major components tracked by Statistics Canada, with recreation, education and reading bucking the trend.

Regionally, Quebec and Ontario both experienced significant increases in annual inflation. Prices rose by four-tenths of a point to 3.2% in Quebec, thanks to a 13.4% pop in gas, while Ontario's rate rose half a point to 2.9% as electricity costs rose 8.9%.