A widespread slowdown in price increases caused the consumer price index to rise 2.7% year over year in April in Canada, lower than the increase of 2 .9% observed in March.
According to Statistics Canada, the price increase has eased for food, services and durable goods. Higher gasoline prices, however, have slowed the slowdown in inflation.
While food prices rose 1.4% year over year in April, this increase was lower than the 1.9% increase recorded in March.
For their part, gasoline prices at the pump increased 6.1% year over year in April, after increasing 4.5% in March.
Excluding gasoline, prices increased 2.5% in April compared to the same month last year.
The core measures used by the Bank of Canada to measure inflation, which exclude volatile prices, also slowed last month.
Inflation data released Tuesday is expected to play a key role in the central bank’s next interest rate decision, scheduled for June 5.
In Quebec, inflation rose to 3.0% in April, after being 3.6% in March.