Canada’s inflation rate fell to 2.7 per cent in April, down from 2.9 per cent in March, amid a broad-based deceleration in price growth.
In Newfoundland and Labrador, the rate dropped from 3.1 per cent to 2.6 and in St. John’s, inflation fell almost a full percentage point to 2.9 from 3.8.
The agency’s consumer price index report says the slowdown nationally was led by food prices, services and durable goods.
Meanwhile, higher gasoline prices moderated the deceleration.
Today’s inflation figures are expected to play a key role in the central bank’s interest rate decision scheduled for June 5.
