Canada February CPI +2.6% y/y vs +2.2% expected

• Prior month 1.9%
• CPI m/m +1.1% versus +0.6% expected. Prior month +0.1%
• Core CPI m/m +0.7% versus +0.4% last month
• CPI y/y +2.6% versus 2.2% estimate
• Core CPI y/y 2.7% versus 2.1% last month
• CPI Median y/y 2.9% versus 2.9% estimate. Last month 2.6% revised from 2.4%
• CPI Trim 2.9% versus 2.6% expected Last month 2.9%
• CPI Common 2.5% versus 2.5% last month

This report is a mess of special factors over the next few months. On Feb 15, the HST (Canada's sales tax) went back into effect on some items after a two month holiday. Now, starting in April, the carbon tax will be removed.