The Consumer Price Index (CPI) rose 1.2 per cent in the 12-months to March, a slight acceleration from the 1 per cent inflation registered in the first two months of the year. Lower gasoline prices, which remain the primary drag on growth in consumer prices, fell 19.2 per cent compared to last year. Inflation measured by the Bank of Canada's core CPI index, which excludes fuel, food and other volatile components, continued to trend above the Bank's 2 per cent target, posting and increase of 2.4 per cent in March. In BC, inflation registered 1 per cent on the heels of 0.8 per cent inflation in February.
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