The inflation rate ticked up from 2.8 per cent in February to 2.9 per cent last month as we paid more for gasoline.

Statistics Canada reports gas prices rose 4.5 per cent from a year ago, partly due to an increase in global oil prices.

Shelter prices rose up 6.5 per cent, mortgage interest costs jumped 25.4 per cent and rent prices rose 8.5 per cent from last year. 

In Saskatchewan, inflation dropped from 1.7 percent in February to 1.5 percent in March. In Regina the rate dropped from 2.0 percent to 1.9 percent. Saskatoon saw a similar drop from 2.1 percent to 1.8 percent.

The Bank of Canada’s three core measures for inflation for March also all moved lower compared with February.

The central bank kept its key interest rate target on hold last week at five per cent, but said that it was “within the realm of possibilities” that it might cut rates at its next scheduled announcement in June.

The Bank of Canada has said that it is looking for evidence that the recent easing in underlying inflation will be sustained.