BREAKING news: Annual inflation rate increases to 1.9 per cent in March
Statistics Canada says the consumer price index in March was up 1.9 per cent compared with a year ago.Last Updated Wednesday, April 17, 2019 9:02AM EDT
The firmer inflation picture brings both gauges closer to the central bank's ideal two per cent target, and comes as the economy works through a soft patch brought on by the drop in crude-oil prices at the end of last year. Higher pump prices were a major driver of inflation last year before lower gas prices weighed on the measure in recent months.
The economy abruptly decelerated in the final three months of 2018. Bank of Canada governor Stephen Poloz has predicted the weakness to be temporary and for the economy to strengthen in the second half of 2019.
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