Statistics Canada reports the annual pace of inflation in March slowed to a pace last seen in 2015 as the economy was gripped by the COVID-19 pandemic.
The agency says the consumer price index for March was up 0.9 per cent compared with a year ago.
Get weekly money news
Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.
READ MORE: Canada’s GDP shrank by 9% in March amid COVID-19
The reading compared with a year-over-year increase of 2.2 per cent in February.
- Blockbuster $22B Shell-ARC deal bodes well for expansion to LNG Canada, experts say
- Shell to buy Canada’s ARC Resources in output-boosting $16.4 billion deal
- Cenovus says oilfield extension off Newfoundland will hike emissions by 21 per cent
- Oilsands have strong growth potential, but pipeline constraints loom: Enverus
Economists on average had expected a reading of 1.2 per cent for March, according to financial markets data firm Refinitiv.
Energy prices fell 11.6 per cent on a year-over-year basis in March. Excluding energy, the consumer price index rose 1.7 per cent.
Comments
Want to discuss? Please read our Commenting Policy first.