Canada: CPI rose 1.6% on a year-over-year basis in March, following a 2.0% gain in February

According to Statistics Canada, the Consumer Price Index (CPI) rose 1.6% on a year-over-year basis in March, following a 2.0% gain in February. Excluding food and energy, the CPI was up 1.7% year over year in March, after posting a 2.0% increase in February.

Key findings:

  • Prices were up in five of the eight major components in the 12 months to March, with the transportation and shelter indexes contributing the most to the year-over-year rise in the CPI
  • In eight provinces, consumer prices rose less on a year-over-year basis in March than in February
  • On a seasonally adjusted monthly basis in March, the transportation index (-1.1%) posted the largest decline, while the recreation, education and reading index (+0.6%) recorded the largest increase