Inflation tumbles in B.C. in March

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VANCOUVER (NEWS1130) – A big drop in B.C.’s inflation rate last month as hotel room prices returned to normal after they had been pumped up for the Olympics. B.C.’s rate dropped to 0.5 per cent from 1.2 in February.

Nationally, StatsCan says the country’s headline annual inflation rate slipped by two-tenths of a point to 1.4 per cent, and the closely watched core rate fell even further… by four-tenths of a point to 1.7 per cent.

Most economists had expected a slight slip in the core rate after the games, but the consensus was that it would be right on the central bank’s target of two per cent.

The bigger than expected drop might have the Bank of Canada rethinking a June interest rate increase…. but there are still many economic reports to come before June 1st.

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