2926-05-19
[Bnn Bloomberg Canada]: Inflation hits highest level in two years: Higher energy prices drove up Canada’s inflation rate to 2.8 per cent in April, reaching its highest level in nearly two years but coming in lower than economists had expected as core measures cooled. The conflict in the Middle East continued to push up gasoline prices last month, which rose by 28.6 per cent from a year ago. Excluding gasoline, the consumer price index rose by two per cent. While price growth reached its fastest pace since May 2024 and ticked up from 2.4 per cent in March, it was still lower than the 3.1 per cent rate economists were expecting.
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