Inflation Holds Steady Near Bank of Canada’s Target

Canada’s inflation rate held steady at around the central bank’s target last month, with few signs of any sharp pick-up in price pressures as the economy operates near its full capacity.

The consumer price index recorded an annual pace of 2.2 percent in April, down from 2.3 percent in March, Statistics Canada reported Friday. Economists expected a 2.3 percent gain. A narrower gauge of core prices closely tracked by the Bank of Canada was little changed at 2 percent.