In March, Canada’s CPI saw a slight increase, rising from 2.8% yoy to 2.9% yoy. However, when excluding gasoline, CPI actually slowed from 2.9% yoy to 2.8% yoy.
A closer look at the components reveals that services prices experienced a sharper increase, rising from 4.2% yoy to 4.5% yoy. This outpaced the change in goods prices, which decelerated slightly from 1.2% yoy to 1.1% .
Further dissecting the inflation data, the core inflation measures indicated a cooling trend. Median CPI decreased from 3.0% yoy to 2.8% yoy, while Trimmed CPI reduced slightly from 3.2% yoy to 3.1% yoy. Additionally, Common CPI, which tracks common price changes across categories, also slowed from 3.1% yoy to 2.9% yoy.
Full Canadian CPI release here.
