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Canada’s Inflation Eases to 2.3% in March, but Core Pressures Persist
Canada’s annual inflation rate unexpectedly slowed to 2.3% in March down from 2.6% in February, according to Statistics Canada. The decline was largely driven by lower gasoline and travel costs, which helped offset rising prices in other sectors.
Despite the overall slowdown, core inflation measures remained elevated, signaling persistent underlying price pressures. The CPI-median, which tracks the central trend of price changes, held steady at 2.9%, while the CPI-trim, which excludes extreme price fluctuations, edged down slightly to 2.8%.
The inflation report comes just ahead of the Bank of Canada’s monetary policy decision, scheduled for Wednesday. Analysts are closely watching whether the central bank will adjust interest rates in response to the latest data.
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