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- Canadian consumer price inflation declines 0.1% in April
Canadian consumer price inflation declines 0.1% in April
Statistics Canada released consumer price inflation data on Friday. Canadian consumer price inflation decreased 0.1% in April, missing expectations for a 0.1% rise, after a 0.7% increase in March.
On a yearly basis, the consumer price index fell to 0.8% in April from 1.2% in March. That was the lowest level since April 2013.
The consumer price index was driven by lower energy prices. The energy index plunged 13.5% in April from the same month a year earlier.
Gasoline price dropped 21.0% in April from the same month a year earlier.
Canadian core consumer price index, which excludes some volatile goods, increased 0.1% in April, after a 0.6% gain in March.
On a yearly basis, core consumer price index in Canada fell to 2.3% in April from 2.4% in March. Analysts had expected the index to remain unchanged at 2.4%.
The Bank of Canada's inflation target is 2.0%.
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