Canada inflation
Canada's annual inflation rate descends to lowest level since August 2021
Ottawa/IBNS: Canada's annual inflation rate fell to 4.3 percent in March, its lowest level since August 2021, Statistics Canada reported Tuesday.
Canada's inflation slowed from 5.2 percent in February, continuing along a downward trend and is expected to descend to three percent by mid-year.
The continued slowdown of Canada's inflation rate since last summer is due to factors including higher mortgage interest costs offset by lower energy prices, lower pace of rising grocery prices, lower prices for fruits and vegetables.
According to the Bank of Canada's latest forecasts, inflation is expected to return to its two percent target by the end of 2024.
(Reporting by Asha Bajaj)
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
