Ottawa: Canada’s annual core inflation rate unexpectedly rose above 2% in February, adding pressure on the Bank of Canada to raise interest rates later this year and pushing the currency higher.
Core inflation, which excludes volatile items like gasoline, reached 2.1% from 2.0% in January, pressured primarily by vehicle prices as rebates were lifted, and higher hotel rates due to the Winter Olympics.
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This appeared in the printed version of the Irish Examiner Saturday, March 20, 2010
