Canada`s inflation rate held steady at 1.0 percent in February, with low fuel prices keeping consumer spending in check.
The 12 months to February 2014 saw higher food and shelter costs, but the price of transport, which includes gasoline, declined on a year-over-year basis for the fourth consecutive month, Statistics Canada said Friday.
As was true in January, which also saw a 1.0 percent inflation rate, gasoline prices continued to be the largest downward contributor to the consumer price index.
On a year-over-year basis, gas prices in February posted a 21.8 percent decline.
Statistics Canada noted however that February`s decline was smaller than the 26.9 percent year-over-year decrease observed in January.
Excluding gasoline, the CPI increased 2.2 percent on a year-over-year basis in February, following a 2.4 percent rise the previous month.
