The most recent release of Statistics Canada’s Consumer Price Survey shows a slight increase in the rate of inflation for January 2021. The inflation rate for that month, as measured on a year-over-year basis, was 1%. The comparable rate for the month of December 2020 was 0.7%.

The largest single contributor to inflation during January was the price of gasoline, which rose by 6.1%.

Details of the inflation picture for the month, by index component and by province, can be found in the February release of the Consumer Price Index, which is available on the StatsCan website here.