Inflation cools to 1.3% in March on cheaper gasoline prices

Canada's inflation rate slowed to an annual increase of 1.3 per cent in March, thanks in large part to gasoline prices that were much cheaper during the month than they were in the same time period a year earlier.

Statistics Canada reported Friday that six of the eight economic sectors the data agency monitors to come up with its cost of living figure were higher. The two that declined were the transportation index — which includes gasoline — and clothing and footwear, which got 0.4 per cent cheaper during the month.

The 1.3 per cent inflation rate was slightly higher than the 1.2 per cent that economists were expecting, according to data compiled by Bloomberg.

The cost of living increased in every province and territory during the month, the data agency said.

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