Canada's Inflation Hits 2.4% in March

OTTAWA, Canada — Canada's annual inflation rate climbed to 2.4 percent in March, edging closer to the Bank of Canada's target range, according to data released by Statistics Canada on April 20, 2026.

The increase from February's 2.0 percent marked a modest uptick in price pressures across the country, driven by factors such as rising energy costs and shelter expenses. Economists have noted that while the rate remains relatively stable, it reflects ongoing recovery dynamics in the post-pandemic economy. The national figure, based on the Consumer Price Index, indicates that the average prices for a basket of goods and services rose by 2.4 percent over the past year.

Provincial variations showed a similar pattern of acceleration in most regions. Newfoundland and Labrador recorded the highest rate at 2.6 percent, up from 1.8 percent the previous month. Nova Scotia and Manitoba both reached 3.0 percent, increases from 1.7 percent and 2.0 percent, respectively. New Brunswick saw 2.9 percent, rising from 2.2 percent, while Quebec and Saskatchewan also hit 2.9 percent, compared to 2.8 percent and 1.6 percent prior.

Slightly lower rates appeared in other areas. Ontario reported 1.9...