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Canada's inflation continued to rise in April

Last Updated May 19, 2021 at 6:17 am PDT

FILE - Statistics Canada building and signs are pictured in Ottawa on Wednesday, July 3, 2019. THE CANADIAN PRESS/Sean Kilpatrick
Summary

Inflation rose to 3.4 per cent on year-over-year basis in April

Statistics Canada says rate of inflation was up 0.6 per cent in April on seasonally adjusted monthly basis

OTTAWA (NEWS 1130) – The rate of inflation rose in April, with Statistics Canada saying the Consumer Price Index jumped to 3.4 per cent on a year-over-year basis.

This comes after a gain of 2.2 per cent in March.

The agency says consumer price growth “rose at its fastest pace since May 2011 amid the third wave of the COVID-19 pandemic.”

Experts were not surprised by the jump in April, considering sweeping COVID-related shutdowns across the country the same time last year. The inflation rate in April 2020 plunged due to health measures, which effectively shuttered businesses and put many out of work.

On a seasonally adjusted monthly basis, the rate of inflation was up 0.6 per cent in April.

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