๐Canada's annual inflation rate dropped unexpectedly to 2.8% in February, as cellular and internet service prices declined sharply, and grocery price growth slowed. Statistics Canada's consumer price index report reveals a second consecutive month of softened price growth. Economists anticipated a rise above January's 2.9%, partly due to increased gasoline prices. Wireless service prices fell by 26.5%, while internet prices dropped by 13.2% compared to a year ago. Despite slower grocery price growth, food prices still rose by 2.4%. Housing costs contributed to inflation, with mortgage interest up 26.3% and rent up 8.2% annually. The Bank of Canada sees this report as positive evidence but awaits sustained inflation at the 2% target before considering interest rate cuts, expected to begin in June.โ . ๐๐๐๐ฎ๐ซ๐ ๐ฒ๐จ๐ฎ๐ซ ๐๐ซ๐๐๐ฆ ๐ก๐จ๐ฆ๐ ๐ฐ๐ข๐ญ๐ก ๐๐๐๐ง๐ ๐๐๐ซ๐ ๐ก๐๐ฌ๐, ๐๐ง๐ญ๐๐ซ๐ข๐จ'๐ฌ ๐ฆ๐จ๐ซ๐ญ๐ ๐๐ ๐ ๐๐ฑ๐ฉ๐๐ซ๐ญ. ๐๐๐ฅ๐ฅ: +๐ (๐๐๐) ๐๐๐-๐๐๐๐ @neena.robin . . #InflationRate #EconomicNews #StatisticsCanada #ConsumerPriceIndex #BankofCanada #InterestRates #PriceGrowth #GroceryPrices #mnm #malayalisnearmeapp #canadaupdate #canadanews
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