Canadian Inflation Eases in March

In a recent report by Statistics Canada, it was revealed that the consumer price index (CPI) increased by 2.3% on a yearly basis in March. This marks a decrease from February's 2.6% annual inflation rate and fell below analysts' expectations.

Key Factors Behind the Decline

The reduction in inflation was primarily driven by a significant drop in prices for travel tours and gasoline, which saw year-on-year decreases of 4.7% and 1.6%, respectively. Additionally, the CPI experienced a modest monthly increase of 0.3% in March.