Canada: Annual CPI Rises to 5.1% in January

The headline Canadian Consumer Price Index (CPI) rose at an annual pace of 5.1% in January, above median economist forecasts for a pace of 4.8% and above December’s 4.8% YoY rate of price growth, according to data released by Statistics Canada on Wednesday. MoM, headline price growth came in at 0.9%, well above the expected 0.6% reading and a sharp acceleration from December’s -0.1%.