Consumer prices (CPI) in Canada rose 6.8% year-on-year in April, a slight increase from the 6.7% annual rise recorded in March, the National Bureau of Statistics announced on Wednesday. Canadian statistics.
April’s annual increase was largely attributable to food and shelter prices. Gasoline prices rose at a slower pace in April compared to March, moderating the overall acceleration in the CPI, the bureau said.
Excluding petrol, the CPI rose 5.8% year-on-year in April, after an annual increase of 5.5% in March. This is the fastest pace recorded since the introduction of the aggregate price index excluding petrol in 1999, the bureau said.
The unemployment rate also fell to its lowest level in April, which tended to put upward pressure on prices. In April, the average hourly wage of employees increased by 3.3% year-on-year. It does mean, however, that on average, prices have risen faster than wages, and Canadians have seen a decline in their purchasing power, the statistics agency found.
On a monthly basis, the CPI rose 0.6% in April, after rising 1.4% in March. On a seasonally adjusted monthly basis, the CPI rose 0.7%.