Canada’s annual inflation rate rose to 2.4 percent in March compared to 1.8 percent in the previous month, as gas prices rose by the largest monthly amount on record, according to a new Statistics Canada report.
Higher prices for energy due to the conflict in the Middle East—particularly for gasoline—drove prices higher, StatCan said in its April 20 report. Excluding gasoline prices, the Consumer Price Index (CPI) rose by a slower rate of 2.2 percent, compared to 2.4 percent in February.
