Annual inflation rises to 6.7% in March in Canada

Annual inflation rose 6.7% last month in Canada, Statistics Canada reported on Wednesday.



This is the largest increase since the 6.9% increase observed in January 1991.



Last February, annual inflation growth was 5.7%.



Statistics Canada found that inflationary pressures remained widespread across the country last month, with prices rising in each of the eight major components.



Gasoline prices rose 11.8% month over month and 39.8% year over year. Prices for heating oil and other fuels rose 19.9% ​​month-over-month and 61% year-over-year.



Year over year, shoppers paid 8.7% more for food purchased from stores last month. It was the steepest annual increase since March 2009.



Statistics Canada noted an 8.5% increase in the prices of dairy products and eggs. Prices for breakfast cereals and other grain products, excluding baby food, rose 12.3% year over year, the fastest pace of price growth since June 1990.



On the other hand, motor vehicle prices rose 7% and consumers paid 13.7% more to furnish their homes in March.



The year-over-year increase in the Consumer Price Index (CPI) was higher in March than in February in all provinces. Price increases were strongest in Prince Edward Island, up 8.9%, New Brunswick and Manitoba, up 7.4%, and Ontario, up 7%.



The increase was 6.7% in Quebec.


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