Money: Canadian inflation rises in April; gas prices strengthen from carbon pricing - PressFrom - Canada
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MoneyCanadian inflation rises in April; gas prices strengthen from carbon pricing

16:16  15 may  2019
16:16  15 may  2019 Source:   msn.com

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+ Canada ’s annual inflation rate picked up its pace in April — a month that saw stronger price pressures on gasoline in provinces that have new carbon - pricing systems. Statistics Canada ’s consumer price index increased two per cent year-over-year last month

Statistics Canada said prices rose in all eight of major components of the index compared with a year ago. Food prices rose 3.5 per cent as fresh vegetable prices climbed 16.7 per cent, the largest year-over-year increase Canadian inflation rises in April ; gas prices strengthen from carbon pricing .

Canadian inflation rises in April; gas prices strengthen from carbon pricing© Provided by Canadian Press Enterprises Inc

OTTAWA — Canada's annual inflation rate picked up its pace in April — a month that saw stronger price pressures on gasoline in provinces that have new carbon-pricing systems.

Statistics Canada's consumer price index increased two per cent last month, up from its reading of 1.9 per cent in March and 1.5 per cent in February.

The April reading, which matched the expectations of economists, brings the measure in line with the Bank of Canada's ideal inflation target of two per cent — a neutral position that doesn't put immediate pressure on governor Stephen Poloz to adjust interest rates.

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OTTAWA - Rising gasoline and car prices fuelled the first significant spike in Canada 's cost of living since February last month, lifting the annual inflation by half a point to 1.2 per The withdrawal of the harmonized sales tax in April is also exerting a downward draft on consumer prices in the province.

Higher gas prices pushed up the inflation rate in April . Prices gained 0.4 per cent from the previous month, led by a 10 per cent rise in gasoline prices , Statistics Canada said Carbon pricing has become a battleground issue between the federal Liberal government and provincial conservative

Consumers paid more for mortgage borrowing costs, fresh vegetables and auto sales last month, while they saw lower price tags for hotels, kids' clothing and digital equipment.

The report says the six provinces where carbon levies were introduced or increased in April saw larger month-over-month rise in prices at the pump.

The provinces include New Brunswick, Ontario, Manitoba and Saskatchewan, which were mandated to follow the federal carbon-pricing system, as well as Prince Edward Island and B.C., which made voluntary carbon-levy changes.

The average of Canada's three gauges for core inflation, which are considered better measures of underlying price pressures by omitting volatile items like gasoline, slowed slightly to 1.9 per cent in April, down from two per cent the previous month.

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Canadian inflation rose slightly in April to 2.0 percent, while gasoline prices soared from the previous month due in part to new or increased carbon emission levies, official data showed on Wednesday.

Carbon pricing in Canada is implemented either as a regulatory fee or tax levied on the carbon content of fuels at the Canadian provincial, territorial or federal level.

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