Annual Inflation Rate Increased to 2.9 Percent in March as Gasoline Prices Rose

The annual inflation rate ticked higher in March compared with February, boosted by higher prices for gasoline, Statistics Canada said on April 12. The agency said its consumer price index for March was up 2.9 percent compared with a year ago, up from a 2.8 percent year-over-year increase in February. The increase came as gasoline prices rose 4.5 percent compared with a year earlier, helped higher by an increase in global oil prices. Excluding gasoline, Statistics Canada said the overall annual inflation rate for March was 2.8 percent, down from 2.9 percent in February. The Bank of Canada’s three core measures for inflation for March also all moved lower compared with February....