FXstreet.com (Barcelona) - Consumer prices have moderated their yearly growing pace in February, going down to levels below 2.0% in year on year terms, as prices have enjoyed a lower pressure from gasoline prices, according to the latest report by Statscan.

In the last twelve month to February, consumer prices have risen 1.8% in Canada, down from the 2.2% year-on-year increase posted in January.

One of the main contributors to the moderation on consumer prices has been the relatively softer upward pressure from gasoline prices, although they went 17.1% up in February, they posted a 20.9% year on year increase in January.

The Bank of Canada's core CPI index has increased 1.5% in February, slightly above the 1.4% increase posted in January.

On the month, consumer prices grew 0.4% in February, following a 0.2% decline in January. The core index increased 0.5% between January and February, following a 0.1% increase on the previous month.