Canada's inflation rate falls to lowest level since August 2021

The continued slowdown in inflation since last summer has now brought the annual rate down to the lowest it's been since August 2021.But the deceleration hasn't brought much relief to homeowners with new mortgages or renewing their mortgages at high interest rates. Mortgage interest costs rose at the fastest pace on record last month, up 26.4 per cent from a year ago.

Grocery prices are also still rising rapidly, but at a slower pace. Grocery prices were up 9.7 per cent on a year-over-year basis in March, down from 10.6 per cent in February. Statistics Canada said the deceleration was driven by lower prices for fruits and vegetables. The Bank of Canada's preferred measures of core inflation, which it uses to look through volatility in prices, also trended downward in March.

Inflation in Canada is expected to continue decelerating this year but the Bank of Canada has said it won't rest until inflation gets back to its two per cent target.According to its latest forecasts, the Bank of Canada is expecting inflation to return to its two per cent target by the end of 2024.Prince Edward Island: 3.9 per cent Ontario: 4.3 per cent British Columbia: 4.7 per cent

The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples :Saint John, N.B.: 4.6 per cent Thunder Bay, Ont.: 4.3 per cent Calgary: 3.7 per cent Yellowknife: 4.6 per cent

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Canada’s annual inflation rate hits 4.3% in March, falls to lowest level since August 2021Statistics Canada says Canadians paid more for mortgage interest last month, but that cost increase was offset by lower energy prices Thank you prime minister Trudeau Everything was still costly in Canada, even before inflation. We are over taxed and over regulated. Remember folks, this doesn't mean prices will drop, it just means they go up a little slower than they were
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Canada’s inflation rate falls to lowest level since August 2021, hits 4.3% in MarchCanada’s annual inflation rate fell to 4.3 per cent in March as higher mortgage interest costs were offset by lower energy prices. I don’t see my grocery bills going down… Interest rates on mortgages have gone up 24% year to date… weneedabreak inflation bankofcanada
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