Consumer price index in April up 2% from year ago

Higher gas prices pushed up the inflation rate

Higher gas prices pushed up the inflation rate

Canada's annual inflation rate edged up to 2.0 per cent in April from 1.9 per cent in March, driven in part by a carbon levy that pushed up gasoline prices in six provinces, Statistics Canada data showed on Wednesday.

"Inflation in Canada is just a steady as she goes story, and she goes right in line with the Bank of Canada's target". The federal move has caused controversy, and provincial governments have vowed to fight the mandated systems.

Prince Edward Island introduced its own carbon levy and British Columbia increased its existing carbon tax.

"Absolutely, when you increase the price of gasoline by applying the carbon price it's obviously going to show up in the numbers", said Alicia Macdonald, principal economist with The Conference Board of Canada. Others included the annual switch to summer-blend gasoline and higher global oil prices, she said.

But in the four provinces where the federal carbon tax took effect, "the average household gets that money back when they file their taxes", Nye noted.

Gas prices rose month-to-month in April in all provinces - and, combined, were up 10 per cent.

"While low pump prices around the turn of the year are now a distant memory, there was some good news for consumers in today's CPI report".

Higher year-over-year costs for mortgage interest and rents, passenger vehicles and auto insurance premiums, as well as for fresh vegetables, were partially offset by lower rates for travel accommodations, gasoline, telephone services, computer equipment and children's clothing, the agency said.

The Canadian dollar declined intraday as some of Canada's inflation indicators missed expectations. "But roughly speaking, the takeaway here is that inflation is broadly in line with the Bank of Canada's target on the back of some pretty strong recent activity measures for the Canadian economy, so none of that leads to rate cut expectations".

Excluding volatile items such as gasoline, the Stats Canada report said the average of it three gauges for core inflation slowed to 1.9 per cent in April from two per cent in March.

Notícias recomendadas

  • Love Island's Jessica Rose And Dom Lever Announce Pregnancy On Instagram

    Jess, 25, and Dom, 27, first met on ITV2 reality TV show Love Island in 2017, and are now about to start their own family. This follows the news of the pair's marriage, after they tied the knot in Mykonos, last year.
    Realme announces global launch of X, X Lite

    Realme announces global launch of X, X Lite

    Thankfully, support for VOOC Flash Charge is retained, which should charge the phone from nil to 55% in just 30 minutes. It has a 16MP pop-up camera and the back has a dual camera - a 48MP main camera with a Sony IMX 586 sensor.
    ASUS launches ZenFone 6 with top-tier hardware and flip-up camera

    ASUS launches ZenFone 6 with top-tier hardware and flip-up camera

    Let's talk about that gorgeous full-screen FHD+ display; it measures in a whopping 6.4in and boasts a tall 19:5:9 aspect ratio. The Asus Zenfone will be available in two color options-Midnight Black and Twilight Silver- to choose from for customers.
  • Court Awards Woodstock 50 Partial Victory Over Former Financiers

    Court Awards Woodstock 50 Partial Victory Over Former Financiers

    Woodstock co-founder Michael Lang also said, "We have always relied on the truth and have never lost faith that the Festival would take place".
    Brexit deadlock deepens as talks between UK’s two main parties collapse

    Brexit deadlock deepens as talks between UK’s two main parties collapse

    May's spokesman, James Slack, confirmed the two sides had not reached "complete agreement" and that no further talks were planned. CBI director-general Carolyn Fairbairn said: "Another day of failed politics, another dispiriting day for British business".
    Republicans rush to extinguish Iran war talk

    Republicans rush to extinguish Iran war talk

    Iranian mullahs clinging to power by playing the nationalist card with America as the enemy is an old story, not a new one. Republican lawmakers who have been briefed about the latest intelligence also expressed trust in Trump's response.
  • AI smartphone app detect ear infections through paper

    AI smartphone app detect ear infections through paper

    The funnel used can be made from any piece of paper that either the physician or consumer can cut and fold to form the tool. The eardrum, formally known as the tympanic membrane, is the barrier between the outer and middle ear.
    JEMAINE CLEMENT Joins AVATAR Sequels

    JEMAINE CLEMENT Joins AVATAR Sequels

    The script was written by Cameron with Josh Friedman, Rick Jaffa, Amanda Silver and Shane Salerno. Cameron and Jon Landau are producing through their Lightstorm Entertainment company.
    Treasury Secretary says battle over Trump's tax returns could go to court

    Treasury Secretary says battle over Trump's tax returns could go to court

    Trump broke with 40 years of precedent by refusing to release his tax returns during the 2016 campaign. Trump and some of the president's associated businesses.
  • Historic ending crowns controversial victor  — Survivor’ finale

    Historic ending crowns controversial victor — Survivor’ finale

    However, he faced criticism from others for being voted out on Day 8, even if he did play within the rules. Chris wanted to play an honest game, keeping faithful to his allies in Rick Devens and Wardog.
    Germany designates BDS Israel boycott movement as anti-Semitic

    Germany designates BDS Israel boycott movement as anti-Semitic

    In its own motion, Die Linke called on the government to support efforts to find a peaceful two-state solution in the Middle East. The far-right Alternative für Deutschland (AfD) brought forward a separate motion calling for a complete ban of the BDS movement.
    Podcast: OnePlus 7 Pro!

    Podcast: OnePlus 7 Pro!

    The company too initiated pop-up events in six cities across India including Mumbai, Delhi, Bangalore, Pune and Bengaluru. The OnePlus 7 Pro was launched in three different RAM and storage options and comes with an edge-to-edge display .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.