The country’s inflation rate dropped to 1.7 per cent in April, down from 2.3 per cent in March.
Gas prices dropped by just over 18 per cent year-over-year in April according to Statistics Canada, due in large part to the end of the consumer carbon tax on fuel that came into effect April 1st.
Grocery prices remain high however, rising at rates faster than the overall consumer price index three months in a row.
The Bank of Canada is set to announce its next interest rate adjustment early next month.
