Canada’s annual inflation rate fell to 2.7 per cent in April amid a broad-based deceleration in price growth, Statistics Canada reported Tuesday.
Statistics Canada is set to release its April consumer price index report this morning. Shoppers browse product outside a shop, in Toronto, Wednesday, Jan. 27, 2021. THE CANADIAN PRESS/Frank Gunn
Tuesday’s consumer price index report bears good news for the Bank of Canada, which has been looking for a sustained decline in inflation toward its two per cent target. The central bank has signalled that it is inching closer to cutting interest rates but wants to see the slowdown in inflation sustained for longer.
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