The West Coast was not spared the “massive” leap in inflation that hit Canadian consumers last month.
B.C.’s inflation rate reached three per cent in February, up from 2.2 per cent in January, according to Tuesday’s Statistics Canada data.
That exceeds the national rate of 2.6 per cent, up from 1.9 per cent in January.
Those increases were boosted by the federal government’s GST/HST tax holiday coming to an end, according to Benjamin Reitzes, BMO’s managing director of Canadian rates.
The economist said these gains will reinforce the Bank of Canada’s “cautious tone” on cutting its central rate to mitigate the impact of tariffs.
“There’s plenty of noise still
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