Investing.com - The overall rate of inflation in Canada picked up in January, Statistics Canada said on Friday.
The consumer price index rose 1.7% last month, compared with the same month a year earlier.
Prices rose by 0.7% from a month earlier.
Economists had expected annual inflation to increase by 1.4% and monthly inflation to rise by 0.4%.
Core inflation, which excludes gasoline, was up 1.2% from a year earlier and rose by 0.5% from the previous month.
The Bank of Canada aims to keep inflation at 2%, the midpoint of a target range of 1% to 3% over the medium term.