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| - Canada's inflation rate rose in January to 2.4% compared to the same month last year, with fuel and food prices leading the way, the national statistics agency said Wednesday. The higher rate in January, which was up from 2.2% in December, was in keeping with analysts expectations. The price of gasoline was up 11.2% compared to year ago levels, when prices were low because of a global oil glut, Statistics Canada said. "Gasoline prices rose with oil prices at the beginning of January 2020, due to concerns over global oil supplies in response to international political events," the agency said in a news release. "Later in the month, global oil prices fell following the novel coronavirus outbreak, which caused uncertainty about demand for oil," it added. Prices for fresh vegetables rose at a faster 5.0% pace in January from December's 1.5% rate, reflecting 10.8% year-over-year growth in tomato prices, it said. ast/jl/jm/dw
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