Canada's Inflation Rate Strengthens to 1.9% as Gasoline Prices Bounce Back

By Blatchford, Andy | The Canadian Press, April 17, 2019 | Go to article overview

Canada's Inflation Rate Strengthens to 1.9% as Gasoline Prices Bounce Back


Blatchford, Andy, The Canadian Press


Canadian inflation firms up, rises 1.9%

--

OTTAWA - Canadian inflation accelerated last month as fresh strength in gasoline prices removed a large amount of downward pressure on the rate, according to a new report Wednesday from Statistics Canada.

The agency's consumer price index increased 1.9 per cent in March, up from a two-month stretch that delivered weaker readings of 1.5 per cent in February and 1.4 per cent in January.

The average of Canada's core inflation numbers, considered better measures of price pressures, rose two per cent in March -- edging up from 1.9 per cent in February. They omit more-volatile items like gasoline and are closely watched by the Bank of Canada.

The firmer inflation picture brings both gauges closer to the central bank's ideal two per cent target, and comes as the economy works through a soft patch brought on by the drop in crude-oil prices at the end of last year.

Before cheaper pump prices weighed on the numbers in recent months, higher gas prices had been a major driver of inflation through much of 2018.

Statistics Canada said the March rebound in the global cost of crude oil pushed gas prices up 11.6 per cent, month-over-month. Gas prices, however, were still 4.4 per cent lower last month compared with March 2018.

"With gasoline it's easy come, easy go... Now, we're back to paying higher prices for gasoline and it has inflation still, even with that, running around two per cent," CIBC chief economist Avery Shenfeld said in an interview.

"You can worry a lot about the decimal places in inflation from month to month, but the story is that inflation is right where the Bank of Canada wants it to be."

The March reading, which was in line with economists' predictions, reinforced expectations the Bank of Canada will leave its key interest rate unchanged at its policy announcement next Wednesday and possibly for the rest of the year.

Year-over-year, Statistics Canada said consumers paid 15.7 per cent more in March for fresh vegetables, 8.1 per cent more on mortgage borrowing costs and 5. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Canada's Inflation Rate Strengthens to 1.9% as Gasoline Prices Bounce Back
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.