Canada's inflation rises 4.3 pct in March

OTTAWA, April 19: Canada's Consumer Price Index (CPI) rose 4.3 percent year over year in March, following a 5.2 percent increase in February. This was the smallest increase since August 2021, Statistics Canada said Tuesday.

As a result of the steep monthly increase in prices in March 2022, base-year effects, notably gasoline prices, continued to have a strong downward impact on consumer inflation, contributing to the year-over-year deceleration in March 2023, the national statistical agency said.