Canada Inflation Rate Slows to 1% in March on Gasoline

Canada’s inflation rate slowed to the bottom of the central bank’s target range last month as gasoline prices dropped, further evidence that slack is building up in the world’s 11th-largest economy.

The consumer price index rose 1 percent in March from a year ago following a 1.2 percent gain the prior month, Statistics Canada said today from Ottawa. The core rate, which excludes eight volatile products, was unchanged at 1.4 percent. Economists surveyed by Bloomberg forecast that the total rate would be 1.1 percent and core would be 1.4 percent.