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Consumer Price Index up 1.9%

Higher prices for vegetables in Canada

As price pressures strengthened for fresh vegetables (as well as mortgage interest costs and auto insurance), Canada’s annual inflation was up last month.

Statistics Canada said Wednesday that the country’s consumer price index increased 1.9% in March, in line with economists’ expectations. It was higher than its readings of 1.5% for February and 1.4% in January, when inflation number was at a 15-month low point.

Compared with a year earlier, Statistics Canada said consumers paid 15.7% more in March for fresh vegetables.

In a separate report Wednesday, the agency said Canada’s trade deficit was $2.9 billion in February,  which contributed to the country’s biggest three-month shortfall on record. The February number followed revised trade deficits of $3.1 billion in January and $4.8 billion in December.

According to kelownacapnews.com¸ exports were down 1.3% in February, while imports declined 1.6%.

 


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