Canada’s Consumer Price Index (CPI) grew by 2.3% year-on-year in March, according to figures released just a few moments ago, compared to 2.6% in February, below expectations. The core CPI, which excludes gasoline prices, rose to 2.5% year-on-year from 2.6%.
On a monthly basis, the CPI rose by 0.3% in March after rising by 1.1% in February, below expectations for a 0.7% increase.
Consumer fuel spending fell by 1.6% year-on-year in March after a 5.1% increase in February due to lower crude oil prices.