BCREA ECONOMICS NOW: Consumer Price Inflation - April 19, 2013
BCREA ECONOMICS NOW
Consumer Price Inflation - April 19, 2013
Canadian consumer prices rose just 1 per cent in the 12 months to March, a slight deceleration from 1.2 per cent in February. The dip in inflation was primarily the result of lower gasoline prices, though inflation was broadly weak across all CPI components. Core inflation, which strips out the most volatile components of the CPI, such as food and energy prices, increased 1.4 per cent in March. Inflation in BC was also muted with consumer prices rising just 0.5 per cent on an annual basis.
Inflation continues to trend well below the Bank of Canada's 2 per cent target rate, a trend we expect to continue through 2013 due to sluggish economic growth and muted inflationary pressure from wages. This low rate of inflation will keep the Bank of Canada sidelined through at least the remainder of 2013 and likely for much of 2014.
For more information, please contact:
Cameron Muir | Brendon Ogmundson |
Chief Economist | Economist |
Direct: 604.742.2780 | Direct: 604.742.2796 |
Mobile: 778.229.1884 | Mobile: 604.505.6793 |
Email: cmuir@bcrea.bc.ca | Email: bogmundson@bcrea.bc.ca |
BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).
Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.
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