Investing.com - Canada's consumer price index rose 0.3% on a monthly basis in January, as economists had forecast, official data showed on Thursday.
The non-seasonally adjusted figure came after December's drop of 0.3%. The country's core CPI, which excludes food and energy, rose by 0.1%, also in line with expectations.
According to Statistics Canada, the country's data agency, consumer prices rose 1.9% in the 12 months to January, following a 1.3% increase in December 2009.
January's increase was the largest since November 2008, said Statistics Canada, which cited high gasoline prices for the rise.
The Canadian dollar rose against the greenback in the wake of the data: USD/CAD shed 0.12% to hit 1.0452 during midday European trade.