1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar

Annual pace of inflation leaps higher in March to 2.2%

THE CANADIAN PRESS | posted Wednesday, Apr 21st, 2021

Statistics Canada says the annual pace of inflation jumped higher in March due in large part to a plunge in prices a year ago at the start of the pandemic.

The agency says the consumer price index in March was up 2.2 per cent compared with a year ago.

The increase compared with a 1.1 per cent year-over-year increase in February, which was then a pandemic-era high.

The figures for March marked a new high, but one that saw prices compared against a year ago when the first wave of COVID-19 crashed on Canada’s shores.

March gas prices, for example, were up 35.3 per cent compared with the same month last year when prices reached a four-year low at the onset of the pandemic.

Statistics Canada says about one-fifth of the increase in gasoline prices was due to the comparison with prices in March 2020.

Comments

  • No comments have been left yet, get the conversation started!

Leave a Comment Below

Sign in to comment.

All fields are required.

Want to embed media into your comment? Just paste in a URL in a separate paragraph to the page where you would normally view the media (like on YouTube) and it will automatically be embedded into your comment.