Rising energy prices push up Canada's inflation rate to 1.5 per cent in March | CTV News
A big jump in energy costs and cigarette prices helped push up
Canada's inflation rate to 1.5 per cent last month, matching the highest
level in the annualized consumer price index in almost two years.
The increase, while significant, was mostly in line with analyst
expectations, who had calculated that the observed strengthening of oil
and natural gas prices last month would play a dominant role in the
report Thursday.
The biggest contributor was energy, which rose 4.6 per cent overall,
but also included a 17.9 per cent jump in the natural gas index, while
electricity was five per cent higher and the cost of fuel oil increased
9.1 per cent.
On the bright side at least Canada allows energy prices in their inflation numbers. The US inflation numbers ignore it.
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