Canada's Inflation Rate Drops to 4.3%

Tuesday, 18 April 2023 11:45

By Linda Morgan

Inflation at the lowest level since August 2021

Statistics Canada is reporting a drop in the inflation rate.

The agency says inflation fell to 4.3 percent last month, which is down from 5.2 percent in February.

This is the lowest inflation has been since August 2021.

The data shows Canadians paid more for mortgage interest last month, but the increase was offset by lower energy prices.

As well, grocery prices were up by 9.7 percent in March, which is down from 10.6 the month prior.

This is due to lower prices for fruits and vegetables.

Economists are predicting inflation will fall to three percent by the middle of the year.

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