Canada's CPI up 1.9 percent in March

April 20, 2012 at 9:21 AM
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OTTAWA, April 20 (UPI) -- Consumer prices in Canada rose 1.9 percent in March, a 0.7 percent decline in the annual inflation rate, Statistics Canada reported Friday from Ottawa.

The decrease in inflation was attributed to slower increases in food and energy prices, the agency said.

"Food prices rose 2.2 percent in the 12 months to March following a 4.1 percent increase in February," StatsCan said. "The cost of energy advanced 5.1 percent in the 12 months to March after rising 7.2 percent in February."

The main factors in the increase in the overall Consumer Price Index were higher prices in transportation and shelter.

The cost of transportation increased 3.8 percent in the 12 months to March while shelter costs rose 1.6 percent during the same period.

"Of the eight major components, six posted slower year-over-year increases in March compared with February," the report said. "The two exceptions were recreation, education and reading; and alcoholic beverages and tobacco products."

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