Canada CPI accelerated to 2.2% yoy in March, up from February’s 1.1% yoy, slightly below expectation of 2.3% yoy. CPI common rose to 1.5% yoy, up from 1.3% yoy , above expectation of 1.4% yoy. CPI median rose to 2.1% yoy, up from 2.0% yoy, matched expectations. CPI trimmed rose to 2.2% yoy, up from 1.9% yoy, above expectation of 2.0% yoy.
StatCan said price growth in March 2021 was “accentuated by what is known as base-year effects, originating in March 2020. “As the upward impact of these temporary base-year effects will influence the 12-month movement over the next few months, the historical movements affecting current growth trends will be examined.”
