The consumer price index rose 2.9% year over year last month in Canada, higher than the 2.8% increase seen in February, Statistics reported Tuesday. Canada.
According to the federal agency, gasoline prices contributed the most to the year-over-year increase in overall inflation in March, while prices at the pump increased significantly. more marked than in February.
Indeed, after having increased by 0.8% in February, gasoline prices increased by 4.5% in March, an increase which would be attributable to concerns related to supply in the context of conflicts geopolitics and the voluntary reduction of production.
Statistics Canada also mentioned that housing prices continued to put upward pressure on inflation, as they increased 6.5% year over year last month, as did in February.
The mortgage interest cost index rose 25.4% year over year in March, while rent prices increased 8.5% compared to the same month last year .
Excluding gasoline prices, headline inflation growth slowed to 2.8% year over year, down from a 2.9% increase. observed in February.
In Quebec, the consumer price index increased by 3.6% in March, the highest rate recorded in March among the 10 Canadian provinces. In February, inflation was 3.3% in the province.