Prior was +2.8% y/y CPI % m/m vs +0.8% expected Prior m/m was +0.4% Core measures: BOC core vs +2.1 prior BOC core m/m % vs +0.2% prior Core CPI SA % m/m +0.3% vs prior CPI median +% vs +2.1% expected (prior was 2.1%) CPI trim +% vs 2.0% expected (prior was 2.3%) CPI common % vs…
5% prior For background, Canada’s headline Consumer Price Index rose 2.8% year over year in April, up from an increase of 2.4% in March. On a seasonally adjusted monthly basis, the CPI rose 0.3% in April, with the unadjusted monthly gain at 0.4%
The April reading was the highest in two years and came in below the market consensus near 3.1%. Statistics Canada released the figures on May 19, 2026. Energy was the dominant contributor.
Gasoline surged 28.6% year over year, a sharp jump from the 5.9% gain recorded in March. Energy prices as a whole were 19.2% higher versus a year ago, the fastest pace since 2022. Drivers cited included the fading base-year effect from the April 2025 removal of the consumer carbon levy, supply uncertainty tied to the Middle East conflict, and the seasonal switch to summer-blend fuel.