OTTAWA—Canada’s annual inflation in March surprisingly slowed to 2.3 percent, three notches below the prior month, largely helped by lower gasoline and travel tour prices, data showed on Tuesday.
The core measures of inflation, which are closely tracked by the Bank of Canada, however, stayed elevated, Statistics Canada said.
On a month-on-month basis, inflation rose by 0.3 percent, Statscan said.
Analysts polled by Reuters had expected the year-on-year inflation rate to remain at 2.6 percent, and on a monthly basis to rise by 0.6 percent.
The rate of increase of consumer prices in Canada has shown signs of acceleration after seven months of staying at a level of 2 percent or below….