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.

More from Local News

Niagara Region Concludes Toronto Meetings

Regional officials met with provincial politicians to discuss Niagara issues
Gates Calling for MRI Wait Time Reduction

He says the current wait of 306 days is nearly double that of a year ago, and it's getting worse
OPP Ready to Keep Roads/Water Safe

Sergeant Kerry Schmidt asking everyone to be mindful of making a wrong decision this holiday weekend
PM Challenged to Cut Gas Taxes for Summer

Conservatives say it'll reduce the price at the gas pumps by 35-cents a litre
Hoverlink Signs Lease Agreement

It's an agreement with St. Lawrence Seaway, enabling trips across Lake Ontario, taking traffic off the highway
Tory MP Listening for Housing Solutions

Scott Aitchison was in St. Catharines, and heard about declaring a building a municipal asset to reduce cost
NRP Citizen's Police Academy to Start

This is not meant to train anyone as a police officer, but learn more about the NRP
Meet Police at NRP Open House

It's tomorrow at Pen Centre, in honour of Police Week