"Canada's annual inflation rate rose to 2.4% in March, driven by high prices for energy, especially gas, due to the war in Iran."
"Energy prices were 3.9% higher compared to a year ago and rose 13.1% on a monthly basis, significantly impacting inflation rates."
"Economists widely expected higher gas prices from the war in Iran to drive inflation up, with predictions of a rise to 2.5% in March."
"A Reuters poll showed economists expected the annual rate of inflation to accelerate to 2.5% in March from 1.8% in February."
In March, Canada's annual inflation rate reached 2.4%, influenced significantly by high energy prices, particularly gas. Energy prices increased by 3.9% year-over-year and surged 13.1% month-over-month. Economists anticipated that the ongoing war in Iran would contribute to rising gas prices, leading to higher inflation. A Reuters poll indicated that economists expected the annual inflation rate to rise to 2.5% in March, up from 1.8% in February, reflecting these economic pressures.
Read at www.cbc.ca
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