Earlier this week, Statistics Canada said gas prices increased 8.6 per cent year-over-year last month, compared to a 3.5 per cent annual rise in December. The federal data agency says energy prices were the top contributor to rising inflation in January.

Canada's annual inflation rate ticked back up in January to 1.9 per cent, Statistics Canada reported on Tuesday. Prices got a full month-long effect of the federal government’s tax break but a spike in gas prices to start the year offset the government’s relief,

Canadian consumer prices reaccelerated for the first time in three months as the central bank’s preferred core measures are proving sticky.