Canada's CPI Up 2.3 Percent in March

The year-over-year slowdown in the all-items CPI was driven by lower prices for travel tours and gasoline in March, said the national statistical agency.

According to the agency, year over year, prices for travel tours declined 4.7 percent in March after an 18.8 percent increase in February. On a month-over-month basis, prices for travel tours fell 8 percent in March.

Air transportation prices fell 12 percent year over year in March following a 4.4 percent decline in February. This was coinciding with decreased Canadian air travel to the United States, said the agency.

On a monthly basis, the CPI rose 0.3 percent in March, said Statistic Canada.

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