OTTAWA – Statistics Canada is set to release inflation data for April today.
Market data shows economists on average expect the annual rate of inflation cooled to 1.6 per cent last month, from 2.3 per cent in March.
The Liberal government eliminated the consumer carbon price at the start of April, offering motorists some relief at the pump.
Last month also marked the first full month of tariffs between Canada and the United States, though both sides have offered some exemptions in the trade dispute.
RSM economist Tu Nguyen says she doesn’t expect tariffs to drive the headline inflation number higher yet even if Canadians ended up paying more for certain goods like autos last month.
The April inflation figures come a little more than two weeks before the Bank of Canada is set to make its next interest rate decision on June 4.
This report by The Canadian Press was first published May 20, 2025.
