StatsCan: Consumer Price Index slows to mid-2021 level

The Consumer Price Index (CPI) rose 4.3% year over year in March 2023 following a 5.2% increase in February according to Statistics Canada’s latest report.

This was the smallest increase since August 2021 (4.1%) and is a result of the steep monthly increase in prices in March 2022 (1.4%). Those increases include base-year effects, notably gasoline prices, which continued to have a strong downward impact on consumer inflation.