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Consumer Price Index, March 2021
The Consumer Price Index (CPI) rose 2.2% on a year-over-year basis in March, up from a 1.1% gain in February. A significant proportion of this increase was attributable to a steep decline in prices in March 2020, as the monthly CPI rose 0.5% in March 2021. On a seasonally adjusted monthly basis, the CPI increased 0.1% in March. Excluding energy, the CPI rose 1.1% on a year-over-year basis. As Canada marked the end of the first year of the COVID-19 pandemic, price growth in March 2021 was accentuated by what is known as base-year effects, originating in March 2020. The broad decline in prices in spring 2020, when ... (full story)
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Annual pace of inflation leaps higher in March to 2.2%, Statistics Canada says
Statistics Canada says the annual pace of inflation jumped higher in March due in large part to a plunge in prices a year ago at the start of the pandemic. The agency says the consumer price index in March was up 2.2 per cent compared with a year ago. The increase compared with a 1.1 per cent year-over-year increase in February, which was then a pandemic-era high. The figures for March marked a new high, but one that saw prices compared against a year ago when the first wave of COVID-19 crashed on Canada's shores. March gas prices, for example, were up 35.3 per cent compared with the same month last year when prices ... (full story)
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