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12-month change:

  1. The Consumer Price Index (CPI) rose 1.5% in the 12 months to March, following a 1.1% increase in February.
  2. The larger year-over-year rise in the CPI in March compared with February was led by energy prices, which rose 4.6% in the 12 months to March, following a 1.6% increase in February.
  3. Six of the eight major components posted price gains in the 12 months to March. The increase in the March CPI was led by rising prices for shelter, transportation and food.
  4. Consumer prices rose in all provinces in the 12 months to March. The largest increase was observed in Alberta, while the smallest was in British Columbia.
  5. With the exception of Ontario, prices rose at faster rates in all provinces on a year-over-year basis in March compared with February. Higher rates of price change for gasoline and for the purchase of passenger vehicles were observed across all provinces.

Month-to-month change:

  1. On a seasonally adjusted monthly basis, the CPI rose 0.2% in March, marking the fifth consecutive increase of equal or greater magnitude.
  2. On a monthly basis and before seasonal adjustment, the CPI rose 0.6% in March, after increasing 0.8% in February.

Bank of Canada’s Core Index:

  1. The Bank of Canada’s core index rose 1.3% in the 12 months to March, after increasing 1.2% in February.

Main contributors to the 12-month change in the CPI:

Main upward contributors:

  1. Natural gas (+17.9%)
  2. Electricity (+5.0%)
  3. Property taxes (+3.2%)
  4. Purchase of passenger vehicles (+1.5%)
  5. Rent (+1.5%)

Main downward contributors:

  1. Women’s clothing (-4.5%)
  2. Prescribed medicines (-4.0%)
  3. Digital computing equipment and devices (-4.5%)
  4. Mortgage interest cost (-0.6%)
  5. Men’s clothing (-1.4%)

Main contributors to the monthly change in the CPI, not seasonally adjusted:

Main upward contributors:

  1. Gasoline (+3.0%)
  2. Natural gas (+10.9%)
  3. Women’s clothing (+5.4%)
  4. Cigarettes (+3.4%)
  5. Footwear (+3.3%)

Main downward contributors:

  1. Traveller accommodation (-3.3%)
  2. Purchase of passenger vehicles (-0.3%)
  3. Preserved fruit and fruit preparations (-3.3%)
  4. Bakery products (-0.8%)
  5. Personal care supplies and equipment (-0.7%)
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