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Canada April Headline and Core CPI Slowest Since 2021

CANADA DATA
  • April Inflation +2.7% YOY from +2.9% in March, the slowest since March 2021. The deceleration was "broad-based" and led by food, services, and durable goods. 
  • BoC's preferred core measures are at their slowest since June 2021. Trim CPI +2.9% YOY, down from +3.2% the month before; median CPI +2.6% from +2.9% in March. 
  • Month over month headline CPI slowed to +0.5% from +0.6%.
  • Gasoline prices +6.1% from a year ago; excluding gas, headline CPI was +2.5% YOY. 
  • The April report is the last inflation release before the BOC's June interest-rate decision.  
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