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Consumer Price Index, April 2023
The Consumer Price Index (CPI) rose 4.4% year over year in April, following a 4.3% increase in March. This was the first acceleration in headline consumer inflation since June 2022. On a year-over-year basis, higher rent prices and mortgage interest costs contributed the most to the all-items CPI increase in April 2023. On a monthly basis, the CPI was up 0.7% in April, following a 0.5% gain in March. Prices for gasoline (+6.3%) contributed the most to the headline month-over-month movement. Excluding gasoline, the monthly CPI rose 0.5%. On a seasonally adjusted monthly basis, the CPI rose 0.6%. Gasoline prices rose ... (full story)
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Canada: Annual CPI rises unexpectedly to 4.4% in April from 4.3%
Inflation in Canada, as measured by the Consumer Price Index (CPI), rose to 4.4% on a yearly basis in April from 4.3% in February, Statistics Canada reported on Tuesday. This reading came in against market forecasts of a decline to 4.1%. On a monthly basis, the CPI rose by 0.7% as expected, above the 0.4% of consensus, and accelerating from the 0.5% of March. Additionally, the Bank of Canada's Core CPI, which excludes volatile food and energy prices, dropped to 4.1% on a yearly basis from 4.3% in March, compared to analysts' estimate of 3.9%. The USD/CAD dropped from 1.3455 to level under 1.3430, reaching fresh daily ... (full story)