Canada's Inflation Eases in March

According to Statistics Canada, the consumer price index (CPI) experienced a yearly increase of 2.3% in March, marking a decrease from February's 2.6% and falling below economists' expectations.

Key Factors Behind the Decline

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