Canada’s inflation rate falls to 2.7% in April as price growth slows across economy

Inflation falls to 2.7%

Statistics Canada says the annual inflation rate fell to 2.7 per cent in April amid a broad-based deceleration in price growth.

That’s down from 2.9 per cent in March.

The agency’s consumer price index report says the slowdown was led by food prices, services and durable goods.

Meanwhile, higher gasoline prices moderated the deceleration.

The Bank of Canada’s core measures of inflation, which strip out volatile prices, also slowed last month.

Today’s inflation figures are expected to play a key role in the central bank’s interest rate decision scheduled for June 5.

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