Canadian Inflation Rate Takes Another Dip After Short Rise

This past February, the Synergy Merchant Funding Blog reported that Canada’s inflation rate had dipped to 1.1 percent in January. By the end of February, however, the rate had increased to 1.4 percent.

Earlier today, The Canadian Press reported that Statistics Canada has revealed the country’s annual inflation rate had decreased once again to 1.2 percent in the month of March. Again, food and shelter costs continued to rise. The report notes that the cost of food increased by 7.9% in March citing fruits and vegetables as items that have become up to 26.5% more expensive than they were one year ago.

According to the report, food costs are rising at its highest rate since 1986. Gas prices, on the other hand, have decreased by 21% helping for transportation costs to be reduced overall.

“Statistics Canada says growth in consumer prices slowed in all provinces in March except the two most populous, Ontario and Quebec” says the report from The Canadian Press.