Inflation in Canada fell to 2.8% in February

Statistics Canada said on Tuesday that the annual inflation rate eased in February amid lower prices at the grocery store.

According to the center, overall inflation was 2.8 percent in February, which was down from 2.9 percent in January.

The prices of products in grocery stores were one of the biggest factors of this decrease, which was 2.4% in February and decreased compared to 3.4% in the previous month.

At the same time, the price of gasoline in February increased by 0.8 percent compared to the same period last year.

The Bank of Canada plans to show that inflation will fall to two percent before it cuts its key interest rate.

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