Canada: Inflation comes in at highest level since January 1991 in March
April 20, 2022
Consumer prices increased a seasonally-adjusted 0.88% from the previous month in March, picking up from the 0.75% increase seen in February. March's figure marked the highest reading since September 2005. The reading was driven by rising prices for housing and transportation.
Inflation increased to 6.7% in March from February’s 5.7%. March's result was the highest inflation rate since January 1991, and was well above the Central Bank’s target of 2%. Annual average inflation rose to 4.5% in March (February: 4.1%). Lastly, core inflation rose to 5.5% in March, from the previous month's 4.8%.