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Stats Can shows dip in inflation last month
BY The Canadian Press, Apr 18, 2023 7:11 PM - REPORT AN ERROR
Despite the decline which was mirrored nationally as Canada's inflation rate fell to 4.3 per cent from 5.2 per cent in February economists say grocery prices and mortgage interest costs continue to climb.
Statistics Canada figures show inflation in B.C. dipped sharply last month, falling to 4.7 per cent from its 6.2 per cent setting in February.
Cost of living in Vancouver and Victoria was also down roughly one per cent in March compared with the month earlier as Stats Can says lower energy prices offset expenses such as higher mortgage rates.
Despite the decline which was mirrored nationally as Canada's inflation rate fell to 4.3 per cent from 5.2 per cent in February economists say grocery prices and mortgage interest costs continue to climb.
Groceries were 9.7 per cent more expensive in March than they were one year ago, but statistics show the hike was not as sharp as the 10.6 per cent year over year increase recorded in February.
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