Canadian inflation hits new three-decade high of 6.8% on housing
BNN Bloomberg
Canadian consumer price inflation accelerated to a fresh three-decade high, adding pressure on the nation’s central bank to continue with aggressive interest rate hikes in coming weeks.
Canadian consumer price inflation accelerated to a fresh three-decade high, adding pressure on the nation’s central bank to continue with aggressive interest rate hikes in coming weeks.
Annual inflation rose to 6.8 per cent last month, up from 6.7 per cent in February, Statistics Canada reported Wednesday in Ottawa. That’s the highest since January 1991 and exceeds the median estimate of 6.7 per cent in a Bloomberg survey of economists.
The average of core measures -- often seen as a better indicator of underlying price pressures -- rose to 4.23 per cent, the highest since 1990.
