Canada's consumer inflation slows to 4.3% in March

By Ovunc Kutlu

ISTANBUL (AA) - Canada's annual consumer inflation slowed to 4.3% in February, easing from the annual gain seen in the previous month, the country’s statistical authority said Tuesday.

While the figure was in line with expectations, it is a major retreat from the 5.2% year-on-year gain in January.

Annual consumer inflation has also significantly slowed since an 8.1% gain in June -- the highest in 39 years.

Excluding food and energy, consumer prices rose 4.5% on a yearly basis in March, following a gain of 4.8% in February, according to Statistics Canada.

The consumer price index rose 0.5% in March, also in line with expectations, following a 0.4% increase in February.

Gasoline prices in March dropped year-on-year for the second consecutive month with a 13.8% decrease, marking the largest annual decline since July 2020, according to Statistics Canada.