Inflation rate increased in April, back up to 4.4%
Economists had been expecting new data released by Statistics Canada on Tuesday to show the cost of living had eased from March's 4.3 per cent pace to something around 4.1.
Food prices have been a major source of consternation for Canadian families of late, and while overall costs have come down from their recent record highs, they are still staying at eye-watering levels.Grocery prices have increased by 9.1 per cent in the year up to April. That's down from March's 9.7 per cent pace but still more than twice as high as the overall inflation rate.
According to government data, the average retail price for a litre of gasoline in April was just over $1.60. That's up from $1.50 in March, but still down significantly from the all-time high of $2.07 reached in June of 2022, and $1.74 a litre this time last year.
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