CMP ~ May 21st, 2024

Canada’s annual inflation rate fell again in April, dropping to 2.7% compared with 2.9% in March in a further indication that consumer price growth is moderating.

Statistics Canada said on Tuesday that the year-over-year rate of core inflation declined for the fourth consecutive month, with April’s reading also marking the fourth month in a row that the rate has fallen within the Bank of Canada’s target range.

Two core inflation measures dipped to an annual average pace of 2.75% – but while that was lower than expected, a three-month moving average of the rate also jumped compared with March (from 1.35% to 1.64%).

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