Canada's CPI Rises 2.7 Percent

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.

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