Canada's CPI rises 2.7 pct


By Lin Wei
  • World
  • Wednesday, 22 May 2024

OTTAWA, May 21 (Xinhua) -- Canada's Consumer Price Index (CPI) rose 2.7 percent on a year-over-year basis in April, down from a 2.9 percent gain in March, Statistics Canada said Tuesday.

Broad-based deceleration in the headline CPI was led by food prices, services and durable goods, the national statistical agency said.

According to the agency, the deceleration in the CPI was moderated by gasoline prices, which rose at a faster pace in April than in March. Excluding gasoline, the all-items CPI slowed to a 2.5 percent year-over-year increase, down from a 2.8 percent gain in March.

Higher gasoline costs in April associated with switching to summer blends, higher oil prices due to supply concerns and an increase in the federal carbon levy all contributed to the increase in prices, the agency added.

On a monthly basis, the CPI rose 0.5 percent in April. On a seasonally adjusted monthly basis, the CPI rose 0.2 percent in April, said Statistics Canada.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Pro-Trump influencers fire up fears of migrant 'invasion' ahead of U.S. election
Musk says Tesla shareholders voting yes for his $56 billion pay package
Apple to ‘pay’ OpenAI for ChatGPT through distribution, not cash
He taught at MIT, worked at Morgan Stanley, and convinced Bill Ackman and Galaxy to back his RM940mil crypto fund by his early 30s. His future is now in jeopardy
EU court orders Hungary to pay 200-million-euro fine over migrant policy
Meta hit with complaint in Norway for training AI on user data
Russia practiced electronic missile launches during tactical nuclear drills
Abortion groups say tech companies suppress posts and accounts
Waymo updating robotaxis after self-driving vehicle crashes into pole
Analysis-How the far-right gained traction with Europe's youth

Others Also Read