Bank of Canada is forecasting rate to hit 3 per cent in a few months Canada’s inflation rate decelerated to 4.3 per cent in March, down from 5.2 per cent the previous month and also down to the lowest level since August of 2021. The cooling of the inflation rate was in line with what economists were expecting. Statistics Canada reported Tuesday that gasoline prices fell by 13.8 per cent in the year up to March, which is the fastest decline in the price of gas since July of 2020.Read more