In March, inflation in Canada dropped to 4.3%

Consumer prices in Canada (CPI index) in March 2023 rose by 4.3% in annual terms, according to data from the country’s Statistics Office.

Inflation has slowed down from 5.2% in February and is at its lowest level since August 2021. Compared to the previous month, prices in Canada increased by 0.5%.

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Excluding energy and food products, annual inflation was 4.5% after 4.8% a month earlier.

Food prices rose by 0.2% in March and by 8.9% in annual terms. Clothing and footwear rose in price by 1.3% m/m and 2.4% y/y.

Transportation costs increased by 0.7% MoM and 0.3% YoY. Housing prices increased by 0.4% and 5.4%, respectively. Gasoline prices rose 1.2% in March and fell 13.8% in a year.

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