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India and Canada Report March Inflation Declines, Highlighting Global Easing Trends

India's inflation fell to a six-year low of 3.34%, while Canada's rate dropped to 2.3%, but core pressures and trade tensions persist.

Overview

  • India's retail inflation fell to 3.34% in March, the lowest since August 2019, driven by declining food prices, including vegetables and protein-rich items.
  • Canada's annual inflation rate eased to 2.3% in March, defying expectations, due to lower gasoline and travel costs, but core inflation remains elevated.
  • The Reserve Bank of India projects a durable softening of food inflation due to robust agricultural outputs and declining inflation expectations.
  • Trade tensions, including U.S. tariffs on imports from India and Canada, continue to create economic uncertainties and may impact future inflation trends.
  • The Bank of Canada faces a challenging monetary policy decision, balancing easing inflation with risks from tariffs and slowing economic growth.

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