Canada’s inflation rate slowed to 1.7 percent in April, driven by lower energy prices following the removal of the consumer carbon tax, according to Statistics Canada.
The country’s inflation rate was at 2.3 percent in March. It fell in April due to a combination of lower energy prices from the carbon tax’s removal, decreased oil demand due to U.S. tariffs, and increased oil supplies from the Organization of the Petroleum Exporting Countries, StatCan says.
Energy prices fell 12.7 percent in April following a 0.3 percent decline in March. Year over year, natural gas prices fell 14.1 percent in April after a 6.4 percent gain in March….