FXstreet.com (Barcelona) - Prices at consumer level have increased 2.2% on the year to January pushed by energy and food prices, according to the latest report published by Statcan.

From December to January, consumer prices have edged down 0.2%; while the Core CPI ticked up 0.1%. By products, energy an food posted the highest increased with prices in both cases 0.6% higher than in the previous months, although those increased could be offset by the 1.6% decline in clothing and footwear, and the same decline posted by recreation, education and reading.

On the year, energy prices, with a 11.0% year-on-year increase, are partly responsible for the 2.2% CPI increase, the Core CPI has risen 1.4% which means the slowest year-on-year increase since July 05.