The Financial Post reports in its Wednesday, Jan. 22, edition that Canada's consumer price index rose 1.8 per cent in December year-over-year, slightly below the expected 1.9 per cent. The Post's Gigi Suhanic writes that this data point comes just before the Bank of Canada's interest rate decision on Jan. 29. Ottawa's GST/HST tax holiday on certain items helped slow inflation. Excluding food, the CPI increased by 2.1 per cent in December. Oxford Economics Canada economist Michael Davenport says Canadians should expect some inflation volatility and a rebound above 2 per cent in March once the effects of the GST/HST tax holiday fall out of the mix. He also expects inflation to get another "bump" in April when the federal carbon tax levy is scheduled to increase, while threats of tariffs from the United States "and the potential elimination of the carbon tax with a change in government risk driving more inflation volatility in the year ahead." Mr. Davenport says "inflationary pressures still appear benign." The BOC has previously said it sets aside temporary effects on inflation, such as the current tax holiday, and instead focuses on broader trends and the state of economic slack.