By Ovunc Kutlu
ISTANBUL (AA) - Canada's consumer inflation annually came in at 2.7% in April along with market estimates, and slowing down from a 2.9% year-on-year gain in March, the country’s statistical authority said Tuesday.
The figure reflects a significant slowdown since the 8.1% annual gain recorded in June 2022 — the highest level for the consumer price index (CPI) in 39 years.
"Broad-based deceleration in the headline CPI was led by food prices, services and durable goods," Statistics Canada said in a statement.
"The deceleration in the CPI was moderated by gasoline prices," it said, noting they rose at a faster pace in April with 6.1%, compared to 4.5% in March.
On a monthly basis, the consumer price index was at 0.5% in April, also slowing down from a 0.6% increase in March.
The monthly figure also came in line with market expectations.