According to data released on Tuesday, Canada's inflation rate unexpectedly slowed to 2.3% in March, mainly driven by falling gasoline and travel prices. However, Statistics Canada said that the core inflation index that the Bank of Canada is closely watching is still high. Statistics Canada said that on a monthly basis, the inflation rate increased by 0.3%. After remaining at or below 2% for 7 consecutive months, Canada's consumer price growth rate showed signs of acceleration. Sales tax relief from mid-December to mid-February helped mask the actual price increase. This is clearly reflected in the rise in food and alcoholic beverage prices. In March, food and alcohol prices reversed the previous contraction and experienced a sharp rise.

According to data released on Tuesday, Canada's inflation rate unexpectedly slowed to 2.3% in March, mainly driven by falling gasoline and travel prices. However, Statistics Canada said that the core inflation index that the Bank of Canada is closely watching is still high. Statistics Canada said that on a monthly basis, the inflation rate increased by 0.3%. After remaining at or below 2% for 7 consecutive months, Canada's consumer price growth rate showed signs of acceleration. Sales tax relief from mid-December to mid-February helped mask the actual price increase. This is clearly reflected in the rise in food and alcoholic beverage prices. In March, food and alcohol prices reversed the previous contraction and experienced a sharp rise.