Canada annual inflation rises to 2.8 percent in April
Canada annual inflation rose to 2.8 percent in April as gasoline prices climbed. Core measures slowed despite the headline increase driven by the war in Iran.
Canada inflation accelerated to 2.8% in April as energy costs surged following conflict in Iran. The reading marks a two-year high for the consumer price index but landed below the 3.1% forecast by Reuters analysts. Gasoline prices spiked, while costs for travel and furniture dropped.
### Energy Costs Drive Headline Acceleration Gasoline prices rose 28.6% in April, pushing total transportation costs up 7.6%, according to Statistics Canada. Global crude oil prices have climbed since the conflict began on February 28, with Canadian pump prices rising 38% in that window. The expiration of the consumer carbon levy also removed a prior downward pressure on annual comparisons for both fuel and natural gas.
