Ekonomické zprávy

Canada’s annual inflation unexpectedly accelerates in April

Statistics Canada reported on Tuesday the country’s consumer price index (CPI) rose 0.7 percent m-o-m in April, following an unrevised 0.5 percent m-o-m jump in the previous month. That was the largest monthly advance in CPI since October 2022 (+0.7 percent m-o-m). 

On a y-o-y basis, Canada’s inflation rate climbed 4.4 percent last month, slightly accelerating from an unrevised 4.3 percent surge in March. That marked the first increase in the annual rate in 10 months. 

Economists had forecast inflation would increase 0.4 percent m-o-m and 4.1 percent y-o-y in April.

According to the report, the April monthly increase in the headline CPI was underpinned by gains in all 8 major components, led by transportation (+1.5 percent m-o-m), which, in its turn, was underpinned by a surge in gasoline prices (+6.3 percent m-o-m) in response to the OPEC+ announcement of a cut in oil output.

Meanwhile, the closely watched the Bank of Canada's core index soared 4.1 percent y-o-y in April, following an unrevised 4.3 percent y-o-y surge in March. That was the smallest increase since December 2021 (+4.0 percent y-o-y).

Podívejte se také