Summary
- Canada’s consumer price index decreased to 2.7% in April from 2.9% in March, primarily due to slower growth in food prices.
- Food prices rose at a slower pace of 1.4% in April compared to 1.9% in March.
- The cost of meat led the decline in food prices, contributing to the overall decrease in the inflation rate.
- Bank of Canada’s preferred measures of core inflation also eased, indicating a positive sign for potential interest rate cuts in June.
