Statistics Canada Says Annual Inflation Rate Hit 6.7% in March

As prices rose faster on an annual basis in March, average hourly wages were up by 3.4 percent, but still far behind inflation and eating into consumers’ purchasing power. Jonathan Hayward/The Canadian Press

The annual rate of inflation hit 6.7 percent in March, the fastest year-over-year increase in the consumer price index since January 1991, Statistics Canada said Wednesday.

The increase compared with gain of 5.7 percent in February.