The annual rate of inflation rose slightly in April as Canadians paid more at the gas pumps, bucking a streak that had seen price pressures easing year-over-year since the summer in Canada.
Inflation was 4.4 per cent last month, up from 4.3 per cent in March, the agency said Tuesday. April marked the first month inflation accelerated since June 2022, when the rate hit 8.1 per cent.
Gas prices were 6.3 per cent higher in April than March — the agency says this drove the overall acceleration in inflation. Statistics Canada noted that gas prices were still 7.7 per cent lower last month than in April 2022, when Russia’s invasion of Ukraine disrupted energy markets globally.
Price growth in Alberta, specifically higher electricity prices, also contributed to the pressures, according to Statistics Canada.