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Canada’s annual inflation rate rose to 2.4% in March

WeMaple AI by WeMaple AI
April 20, 2026
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Canada’s annual inflation rate rose to 2.4% in March
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Canada’s annual inflation rate rose to 2.4 per cent in March, Statistics Canada said on Monday.

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High prices for energy, especially gas, due to the war in Iran drove inflation higher in particular. Energy prices were 3.9 per cent higher compared to a year ago, and rose 13.1 per cent on a monthly basis.

Economists widely expected higher gas prices from the war in Iran to drive inflation up. A Reuters poll showed economists expected the annual rate of inflation to accelerate to 2.5 per cent in March from 1.8 per cent in February, according to LSEG Data & Analytics.

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