Canada: Annual CPI increased 1.9% in December

"The Consumer Price Index (CPI) increased 1.9% on a year-over-year basis in December, following a 2.1% gain in November," the Statistics Canada reported on Friday.

Key highlights

Prices were up in seven of the eight major CPI components in the 12 months to December, with the transportation and shelter indexes contributing the most to the increase.

The movement in transportation prices was led by gasoline, which rose 12.2% year over year in December, after increasing 19.6% the previous month.

Consumer prices rose less on a year-over-year basis in eight provinces in December than they did in November.