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- Canada CPI inflation lower than expected in April
Canada CPI inflation lower than expected in April
The Consumer Price Index (CPI) rose 2.2% on a year-over-year basis in April, following a 2.3% increase in March.
Seven of eight major components increased on a year-over-year basis in April. The recreation, education and reading index (-0.2%) was the lone major component to decline year over year.
The price of services (+2.3%) increased more slowly on a year-over-year basis in April, after posting a 2.7% increase in March. This was largely a result of price decreases in travel services, which declined 6.0% year over year. A smaller year-over-year increase in the cost of air transportation (+11.9%) coincided with the price decrease in travel services.
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