OTTAWA — Higher gas prices driven mainly by the war in Iran pushed inflation higher in April but some economists argue the conflict’s looming costs haven’t been fully captured in the latest price data.
Inflation rose to 2.8 per cent in April, Statistics Canada said Tuesday — the highest annual inflation rate since May 2024.
StatCan’s April report marks a jump from March’s inflation rate of 2.4 per cent, though a Reuters poll of economists had expected inflation would accelerate even more to top three per cent.
StatCan said the cost of gasoline was 28.6 per cent higher year-over-year last month as conflict in the Middle East disrupted global
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