B.C.’s inflation rate accelerated in February, corresponding with a strong national increase. On a year-over-year basis, headline inflation rose to three per cent, up from 2.2 per cent in January, and compared to 2.6 per cent nationwide. This was in large part because of the end to the GST holiday. Core inflation, which excludes food and energy, also rose to 2.9 per cent from 2.3 per cent.

Shelter prices continued to keep headline inflation elevated. Year over year, shelter prices rose by 4.3 per cent, up from 4.1 per cent in January. This is the second-lowest increase in over three years. Transportation prices registered the largest year-over-year increase since February 2023, up 4.8 per cent. Gas prices were also up 7.5 per cent, down from the previous month’s 8.7-per-cent increase.

Food prices rose 1.9 per cent with meat up 5.2 per cent and fruit and nuts........

© BIV