Economists Expect Inflation Rate Ticked up Above 3% Last Month Amid Higher Gas Prices

Economists Expect Inflation Rate Ticked up Above 3% Last Month Amid Higher Gas Prices
A woman gasses up at a gas station in Mississauga, Ont., on Feb. 13, 2024. The Canadian Press/Christopher Katsarov
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Economists say inflation likely flared up again in February amid higher gasoline prices, reinforcing the expectation that the journey back to two percent inflation will be a bumpy one.

Statistics Canada is set to release its February consumer price index report on March 19. The consensus expectation among forecasters is that prices rose 3.1 percent from a year ago.