February inflation rate slows to 2.8% as price growth unexpectedly eases

Canada's annual inflation rate unexpectedly fell to 2.8 per cent last month, amid sharp declines in cellular and internet services as well as slower grocery price growth. Statistics Canada released its February consumer price index report Tuesday, which shows price growth softened for a second consecutive month. Economists were widely expecting Canada's inflation rate to have risen above January's 2.9 per cent, in part due to higher gasoline prices.The latest on inflation in CanadaCIBC economist