US EditionCanada's annual inflation rate rose to 2.4% in March, driven by high gas prices
Gasoline prices jumped 21.2% on the month, the biggest increase on record, while core inflation stayed near 2.2% to 2.3%, Statistics Canada said.
- On Monday, Statistics Canada reported Canada's annual inflation rate accelerated to 2.4% in March, up from 1.8% in February, driven by a record 21.2% monthly surge in gasoline prices.
- Iran's moves to close the Strait of Hormuz disrupted crude shipments, triggering a global oil supply shock that pushed Canadian gasoline prices 5.9% higher year-over-year in March.
- Excluding gasoline, the Consumer Price Index decelerated to 2.2% in March, while the Bank of Canada's preferred core measures—CPI-median at 2.3% and CPI-trim at 2.2%—signaled contained underlying pressures.
- Policymakers at the Bank of Canada will look through this temporary energy-driven spike while preparing for their April 29 interest rate decision, signaling restraint on immediate policy action.
- Meanwhile, the federal government's removal of the Consumer Carbon Price last year continued to mute annual inflation comparisons, while overall food inflation cooled to 4% from 5.4% in February.
32 Articles
32 Articles
Inflation Rises to 2.4 Percent in March Amid Rising Fuel Prices: StatCan
Canada’s annual inflation rate rose to 2.4 percent in March compared to 1.8 percent in the previous month, as gas prices rose by the largest monthly amount on record, according to a new Statistics Canada report. Higher prices for energy due to the conflict in the Middle East—particularly for gasoline—drove prices higher, StatCan said in its April 20 report. Excluding gasoline prices, the Consumer Price Index (CPI) rose by a slower rate of 2.2 pe…
sarnianewstoday.ca
Higher gas prices pushes inflation up in March
Canada's Consumer Price Index rose 2.4 per cent in March compared with a year ago, as consumers paid more for gas due to the war in Iran.Statistics Canada says that, excluding gas, inflation rose 2.2 per cent after February's 2.4 per cent increase.Year-over-year, energy prices jumped 3.9 per cent after falling 9.3 per cent in February. Consumers paid 5.9 per cent more to fill up the tank than they did in March 2025. On a monthly basis, gas price…
Canada Inflation Accelerates to 2.4% in March
Sharply higher prices at the pump last month drove inflation in Canada to its hottest in three months. The consumer-price index rose 0.9% in March, the biggest monthly advance in a little over a year, Statistics Canada said Monday. That buoyed annual inflation to 2.4%, after cooling for a second month running in February to 1.8%.
Coverage Details
Bias Distribution
- 59% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
