April 17, 2009, Ottawa — Statistics Canada says the country’s annual
inflation rate dipped to 1.2 per cent in March from 1.4 per cent the
previous month, but produce prices rose dramatically.
April 17, 2009, Ottawa — Statistics Canada says the country’s annual inflation rate dipped to 1.2 per cent in March from 1.4 per cent the previous month, but produce prices rose dramatically.
The decrease re-establishes a recent trend toward lower inflation that had been briefly interrupted in February, and almost takes the rate to January’s 1.1 per cent level.
The agency says food and shelter costs remain the main drivers of inflation, with food rising at the highest rate since 1986. The cost of food advanced 7.9 per cent in March as prices for fresh vegetables shot up 26.5 per cent and fresh fruit cost 19.3 per cent more than last year. Meanwhile, gasoline prices fell 21 per cent and continued to drive overall transportation costs down.
Statistics Canada says growth in consumer prices slowed in all provinces in March except the two most populous, Ontario and Québec.
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