OTTAWA — Canada’s annual inflation rate fell to 2.7 per cent in April amid a broad-based deceleration in price growth, Statistics Canada reported Tuesday.
Tuesday’s consumer price index report bears good news for the Bank of Canada, which has been looking for a sustained decline in inflation toward its two per cent target. The central bank has signalled that it is inching closer to cutting interest rates but wants to see the slowdown in inflation sustained for longer.
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