Canada's Inflation Rate Takes a Dip

In a recent report by Statistics Canada, the consumer price index (CPI) showed a 2.3% increase in March compared to the previous year. This marks a decrease from February's 2.6% and falls below economists' expectations.

Key Factors Influencing the Decline

The reduction in inflation is largely due to lower prices for travel tours and gasoline, which saw year-on-year drops of 4.7% and 1.6%, respectively. Additionally, the CPI experienced a modest 0.3% rise from February to March.