Canada's inflation rate ticks higher, but odds of June interest rate cut boosted

Canada’s inflation rate ticked higher in March, but an easing of other price pressures underscored the potential for the Bank of Canada to lower interest rates in June. The consumer price index rose 2.9 per cent in March from a year earlier, up from 2.8 per cent in February, Statistics Canada said Tuesday in a report. This result matched expectations on Bay Street and was partially owing to a 4.9-per-cent increase in gas prices, month over month. Elsewhere, there were …