Data from the Canadian Statistics Office shows that the annual inflation rate in Canada rose to 1.9% in January, compared to the same period last year. This increase is driven by rising prices of some goods and services, particularly in the housing and energy sectors.

According to the report, food prices experienced a slight increase, while some other consumer goods showed relative stability. Despite the recorded increase, the inflation rate is still lower than levels seen in Canada in recent years, reflecting a slowdown in inflationary pressures compared to previous periods.

It is worth noting that inflation is one of the main factors influencing the monetary policy of the Bank of Canada, as its rates are closely monitored to determine the appropriate measures to maintain price stability and support the economy.