Canada: Annual CPI Rises to 2.2% in March

Annual inflation in Canada, as measured by the Consumer Price Index (CPI), rose to 2.2% in March from 1.1% in February. This reading came in slightly lower than the market expectation of 2.3%. On a monthly basis, the CPI stayed unchanged at 0.5%.

Moreover, the Bank of Canada’s Core CPI, which excludes volatile food and energy prices, edged higher to 1.4% on a yearly basis in March and matched analysts’ estimates.