Inflation & Prices
Inflation in Canada Quickens to 4.4% With Housing Costs Rising
- It’s the first increase in the headline number since June
- Next Bank of Canada rate decision is scheduled for June 7
Condos in the Griffintown neighborhood of Montreal, Canada.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
Inflation unexpectedly reaccelerated in Canada but core measures continued to ease, potentially giving the central bank room to keep rates on pause as it waits for the tight labor market to cool.
The consumer price index rose 4.4% in April from a year ago, the first increase in the rate of headline inflation since June 2022, Statistics Canada reported Tuesday in Ottawa. That’s faster than the 4.1% gain expected in a Bloomberg survey of economists, and up from 4.3% in March.