OTTAWA, April 16 (Xinhua) -- Canada's Consumer Price Index (CPI) rose 2.9 percent on a year-over-year basis in March, up from a 2.8 percent gain in February, Statistics Canada said Tuesday.
Gasoline prices contributed the most to the year-over-year headline acceleration, as prices at the pump rose faster in March compared with February. Excluding gasoline, the all-items CPI slowed to a 2.8 percent year-over-year increase, down from a 2.9 percent gain in February, according to the national statistical agency.
Shelter prices continued to apply upward pressure in March, with the mortgage interest cost and rent indexes contributing the most to the year-over-year gain in the all-items CPI, the agency said.
Prices for services continued to rise in March compared with February, driven by air transportation and rent, outpacing price growth for goods which slowed compared with February on a yearly basis, the agency said.
On a monthly basis, the CPI rose 0.6 percent in March. On a seasonally adjusted monthly basis, the CPI rose 0.3 percent in March, Statistics Canada said.
