JUST IN: Canada’s annual inflation rate falls to 4.3% in March
Canada’s annualrate fell to 4.3 per cent in March as higher mortgage interest costs were offset by lower energy prices.slowed from 5.2 per cent in February, continuing along a downward trajectory that’s expected to bring it down to three per cent by mid-year.since last summer has now brought the annual rate down to the lowest it’s been since August 2021.But the deceleration hasn’t brought much relief to homeowners with new mortgages or renewing their mortgages at high interest rates.
Grocery prices are also still rising rapidly, but at a slower pace. Grocery prices were up 9.7 per cent on a year-over-year basis in March, down from 10.6 per cent in February. Statistics Canada said the deceleration was driven by lower prices for fruits and vegetables., which it uses to look through volatility in prices, also trended downward in March.
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