Consumer prices rise in PEI in March

The inflation rate dipped to an unexpectedly weak 1.6 per cent in March, down from two per cent in February.

That's a bigger drop than economists had expected.

Statistics Canada reports the continued decline in food prices played a big role in offsetting the higher cost of gasoline.

The cost of fresh fruit dropped 12.4 per cent year-over-year while fresh vegetable prices fell 10.2 per cent.

Consumer prices in PEI were up 1.7% on a year-over-year basis in March, following a 1.5% gain in February. 

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