Canada: Inflation climbs in April
May 20, 2016
In April, seasonally-adjusted consumer prices recorded a 0.2% increase over the previous month, which matched March’s nine-month-high. According to Statistics Canada, six of the eight components of the index increased over the previous month, while the food component and the recreation, education and reading component declined.
Inflation was 1.7% in April, up from 1.3% in March. April’s result was in line with market expectations and remains within the Bank of Canada’s target range of 2.0% plus/minus 1.0 percentage point. Annual average inflation in April inched up from March’s tally of 1.2% to 1.3%. Core inflation, which excludes volatile items such as gasoline and fresh food, increased from 2.1% in March to 2.2% in April.
Author: Robert Hill, Economist