Canada's annual inflation rate slowed to 2.2 per cent in April but the big news was the core inflation index, which jumped to 2.5 per cent -- the strongest increase in four years.
Easing gasoline prices slowed the annual inflation rate, known as the Consumer Price Index (CPI), from 2.3 per cent in March, says Statistics Canada.
The core number, which excludes volatile items such as fruit and vegetables and gasoline, was also 2.3 per cent in March.
The Bank of Canada, when it looks to set interest rates, considers the figure to help gauge whether consumer prices are being kept in check.
Housing, specifically mortgage costs, were the biggest contributor to the April inflation increase. Mortgage costs were 5.6 per cent higher than March, marking the largest increase in over six years.
Meanwhile, gasoline prices rose 2.6 per cent but still remained far below the 13.5 per cent jump that occurred during the same period last year.
Natural gas prices dropped for the 10th straight month -- down 4.5 per cent nationally.
When energy components alone were removed from the consumer price index for April, the "all-items" inflation rate jumped to 2.4 per cent, from 2.1 per cent in March. The increase was the fastest since May 2003.
In April, consumers paid more for food (3.8 per cent), restaurant meals (2.3 per cent) and vegetables (12.9 per cent).
Car insurance premiums also jumped 4.3 per cent but the cost of buying or leasing new vehicles dropped 1.1 per cent.
Alberta and Saskatchewan outpaced the national CPI average rising 5.5 and 2.4 per cent respectively.
Here's what happened in the provinces and territories (previous month in brackets):
- Newfoundland and Labrador 1.4 (2.0)
- Prince Edward Island 1.4 (2.7)
- Nova Scotia 1.4 (2.1)
- New Brunswick 1.1 (1.4)
- Quebec 1.4 (1.8)
- Ontario 1.8 (1.8)
- Manitoba 2.2 (2.6)
- Saskatchewan 2.4 (2.6)
- Alberta 5.5 (5.5)
- British Columbia 1.9 (2.2)
- Whitehorse, Yukon 1.7 (2.0)
- Yellowknife, N.W.T. 2.3 (2.6)
- Iqaluit, Nunavut 3.1 (2.9)
