OTTAWA, May 20 (Xinhua) -- Canada's consumer price index (CPI) fell 0.2 percent on a year-over-year basis in April, the first such decline since September 2009, Statistics Canada said Wednesday.

Canada's inflation rate turned negative in April as the economy came to a standstill due to the impact of the COVID-19 pandemic.

In April, gasoline prices plunged by 39.3 percent, the largest year-over-year decline on record. Excluding energy, the CPI rose 1.6 percent.

On a seasonally adjusted monthly basis, the CPI fell 0.7 percent in April. Excluding food and energy, the seasonally adjusted CPI fell 0.1 percent.

The clothing and footwear component fell 5.9 percent on a monthly basis in April 2020, the largest monthly decline in that component on record.

Travel and accommodation prices dropped 9.8 percent on a yearly basis in April, the largest decline since 2011 as public health restrictions limited travel to and within Canada.

However, despite the overall decline in the inflation rate, Canadians paid more for food in April.

As consumers stocked up on toilet paper and cleaning supplies, the prices for those items rose by 6 percent and 4.6 percent, respectively.

Prices for pork and beef increased by 9 percent and 8.5 percent, respectively. It was due to a boost in sales and supply issues, including a slowdown in cross-border shipping and production cuts or temporary closures of Canadian meat processing plants. Enditem

Related

Go to Forum >>0 Comment(s)