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12-month change:

  1. The Consumer Price Index (CPI) rose 1.3% in the 12 months to March, after increasing 1.4% in February.
  1. Excluding gasoline, the CPI rose 1.9% year over year in March, matching the increase in February.
  1. Despite a 5.7% monthly increase in gasoline prices in March, the gasoline index was down 13.6% on a year-over-year basis in March, after declining 13.1% in the 12 months to February.
  1. Prices rose in six of the eight major components on a year-over-year basis in March, with the food and shelter indexes contributing the most to the increase in the CPI. The transportation index, which includes gasoline, and the clothing and footwear index declined on a year-over-year basis in March.
  1. On a year-over-year basis, consumer prices in eight provinces rose less in March than in February. Conversely, in Alberta and British Columbia, consumer prices rose more on a year-over-year basis in March than the previous month.
  1. In the Prairie provinces, gasoline prices posted smaller declines year over year in March compared with the previous month. In the other provinces, gasoline prices were down more on a year-over-year basis in March than in February.

Month-to-month change:

  1. On a seasonally adjusted monthly basis, the Consumer Price Index increased 0.2% in March, following a 0.2% decrease in February.
  1. On a monthly basis and before seasonal adjustment, the CPI rose 0.6% in March, following a 0.2% gain in February.

Bank of Canada’s core index:

  1. The Bank of Canada’s core index increased 2.1% in the 12 months to March, after rising 1.9% in February.

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

Main upward contributors:

  1. Purchase of passenger vehicles (+3.2%)
  2. Electricity (+7.5%)
  3. Fresh vegetables (+14.9%)
  4. Food purchased from restaurants (+2.6%)
  5. Fresh fruit (+11.3%)

Main downward contributors:

  1. Gasoline (-13.6%)
  2. Natural gas (-17.4%)
  3. Fuel oil (-25.8%)
  4. Mortgage interest cost (-1.5%)
  5. Women’s clothing (-1.8%)

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

Main upward contributors:

  1. Gasoline (+5.7%)
  2. Women’s clothing (+6.4%)
  3. Travel tours (+7.6%)
  4. Purchase of passenger vehicles (+0.8%)
  5. Men’s clothing (+3.8%)

Main downward contributors:

  1. Fresh fruit (-4.5%)
  2. Fresh vegetables (-3.3%)
  3. Natural gas (-1.9%)
  4. Dairy products (-0.8%)
  5. Tools and other household equipment (-1.3%)
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