Canada annual inflation rate falls
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The headline figure, however, concealed a bundle of sharply higher prices on food, cars and rent, and adds to a raft of crosscurrents facing central bank policymakers.
Prior to Tuesday’s Statistics Canada release, economists largely expected overall inflation to have fallen to 1.6 per cent from 2.3 per cent in March.
Canada’s inflation rate cooled in April, but with the impact of tariffs beginning to be felt, what’s ahead for interest rates? Click to read.
The Canadian dollar strengthened against its U.S. counterpart on Tuesday as investors slashed bets on a Bank of Canada interest rate cut next month after domestic data showed underlying inflation heating up.
Canada’s annual rate of inflation slowed to 1.7 per cent in April, Statistics Canada reported on Tuesday, down from 2.3 per cent in March.