Economists expect inflation topped 3% in April as gas prices soared
Economists say gasoline and energy costs will push annual inflation above 3% as the Bank of Canada weighs the outlook.
- Economists expect Canada's annual inflation rate to rise to 3.1% in April, up from 2.4% in March, largely due to soaring gas prices linked to energy shocks from the Iran war.
- Gasoline prices increased by 8% in April following a 21% surge in March, influenced by disruptions at the Strait of Hormuz that affected global oil flows.
- Desjardins forecasts inflation will peak at 3.1% in mid-2026, with gas prices remaining higher than prewar projections and food inflation rising due to increased transportation and energy costs.
14 Articles
14 Articles
Statistics Canada is expected to publish updated price data on Tuesday
Economists expect inflation to exceed 3% in April for the first time since 2023, while consumers are facing the oil shock caused by the war in Iran.
Winnipeg Free Press
Economists expect inflation topped 3% in April as gas prices soared
OTTAWA - Economists expect the annual pace of inflation topped three per cent for the first time since 2023 in April as Statistics Canada's consumer price index reflects the full weight of the Iran war energy shock.
April Inflation Higher than Expected, Fueled by Energy Cost
The inflation numbers for April were released by the BLS (Bureau of Labor Statistics) on May 12. Most economists had predicted an increase to 3.7%, but the actual rate was slightly higher at 3.8%. This is the highest increase since May, 2023. The Producer Price Index, which is an indicator of future inflation also experienced...
Economists expect it to exceed 3% for the first time since 2023. The post-Inflation is expected to cross a critical threshold in Canada in April appeared first on Les Affaires.
Coverage Details
Bias Distribution
- 50% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
