Canada inflation plunges on lower energy prices

Ottawa: Canada s inflation rate plunged in April on lower energy prices, but food costs continued to rise, the national statistical agency said Tuesda...

Ottawa: Canada's inflation rate plunged in April on lower energy prices, but food costs continued to rise, the national statistical agency said Tuesday.

Overall prices rose 1.7 percent year over year, down from a 2.3 percent increase in March, Statistics Canada said.

This was largely driven by lower energy prices, with gasoline costs falling 18.1 percent and prices for natural gas down 14.1 percent after a federal levy on carbon pollution was cancelled and crude oil prices fell, the agency said.

Oil prices retreated due to lower demand resulting from tariffs disrupting international trade and increased supply.

The costs of food and travel tours, meanwhile, rose.