Ottawa's inflation rate drops

Ottawa Buisness Journal

The inflation rate in the city of Ottawa dropped one-tenth of a percentage point, to 1.0 per cent in March, Statistics Canada said Friday.

Across the counntry, inflation remained cool at 1.3 per cent as stubbornly low energy prices continued to weigh down the annual rate, the government agency said.

The March inflation reading followed a 1.4 per cent year-over-year increase in February and a two per cent rise in January.

The agency's latest consumer price index said its headline inflation rate remained below the Bank of Canada's two per cent target, largely due to a drop in prices for gasoline, natural gas and fuel oil. Prices dropped 13.6 per cent at the pump, 17.4 per cent for natural gas and 25.8 per cent for fuel oil.

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Michael James

Michael James

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