Canada’s annual inflation rate plunged in April on lower energy prices, with food costs continuing to rise, the national statistical agency said Tuesday.
Overall prices rose 1.7 percent year over year, down from a 2.3 percent increase in March, Statistics Canada said.
This was largely driven by lower energy prices, with gasoline costs falling 18.1 percent and prices for natural gas down 14.1 percent after a federal levy on carbon pollution was cancelled and crude oil prices fell, the agency said.
Oil prices retreated due to lower demand as a result of tariffs disrupting international trade and increased supply.
The costs of food and travel tours, meanwhile, rose.
Food prices have been increasing at a faster pace over recent months than the overall rise in the costs of goods. The 3.8-percent increase in April was led by higher prices for fresh vegetables, beef, coffee and tea, sugar and prepared foods.
The cost of restaurant meals also increased in the month.
