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

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. That would reverse some of the progress made in January, when the annual inflation rate slowed to 2.9 percent. “We’re looking for inflation to re-accelerate as a result of higher energy prices during the month. It looks like for the next few months, inflation will probably be bouncing around the three percent range,” said Royce Mendes, managing director and head of macro strategy at Desjardins....