Canada CPI rose 1.2% year-on-year in March

FXStreet (Mumbai) - As per the data released by Statistics Canada, the CPI in March rose 1.2% after increasing 1.0% in February.

Lower gasoline prices continued to be the largest downward contributor to the CPI, falling 19.2%, although the declined was less than the 21.8% year-over-year decrease observed in February.

Excluding gasoline, the CPI increased 2.2% on a year-over-year basis in March, matching the rise the previous month. On a non-seasonally adjusted monthly basis, the gasoline price index rose 6.3% in March, following a 9.4% gain the previous month.