Canada's Inflation Sees a Notable Decline

In a recent report released by Statistics Canada, the consumer price index (CPI) showed a year-over-year increase of 2.3% in March. This marks a decrease from February's 2.6% and comes in lower than what many economists had anticipated.

Key Factors Behind the Drop

The decline in inflation was largely driven by 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 monthly increase of 0.3% in March.