Signage marks the Statistics Canada offices in Ottawa on July 21, 2010. The federal agency's latest consumer price index report will provide an update on the pace of price growth in the country. THE CANADIAN PRESS/Sean Kilpatrick
OTTAWA – Statistics Canada is set to release its March inflation reading this morning.
The federal agency’s latest consumer price index report will provide an update on the pace of price growth in the country.
RBC is forecasting the annual inflation rate fell to 4.1 per cent in March, down from 5.2 per cent in February.
The bank says the expected decline in inflation last month was likely driven by lower energy prices.
Canada’s annual inflation rate has been steadily declining since last summer, as global price pressures ease and high borrowing costs weigh on spending.
Inflation is expected to continue slowing in the coming months, with many economists forecasting the annual rate to fall to about three per cent by mid-year.
This report by The Canadian Press was first published April 18, 2023.
