OTTAWA: Canadians paid 2.3 percent more for goods and services in March than a year earlier, in the largest year-over-year increase since October 2014, according to official data released Friday.
Inflation, however, was lower than analysts expected, following a 2.2 percent increase in prices in February.
In a statement, Statistics Canada said only clothes and footwear prices declined in March, while all other components of its consumer price index increased.
Gasoline prices rose for a second consecutive month, up 17.1 percent year over year.
Recent interest rate increases continued to push up mortgage costs -- for an eighth consecutive month.
Passenger vehicles cost less than in the previous month due to higher rebates for some 2018 model-year vehicles, but car and truck prices as well as passenger vehicle insurance premiums were up compared to the same period last year.
Meat and vegetables prices were also down from February, but those savings were more than offset by a year-over-year increase in the cost of restaurant meals.
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