Economics
Canadian Inflation Hits New Three-Decade High of 6.8% on Housing
- Annual price gains climb to 6.8%, exceeding expectations
- Report adds to pressure for another jumbo interest-rate hike
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Canadian consumer price inflation accelerated to a fresh three-decade high, adding pressure on the nation’s central bank to continue with aggressive interest rate hikes in coming weeks.
Annual inflation rose to 6.8% last month, up from 6.7% in February, Statistics Canada reported Wednesday in Ottawa. That’s the highest since January 1991 and exceeds the median estimate of 6.7% in a Bloomberg survey of economists.