Canada’s annual inflation jumped up to 2.8 per cent in April

The jump in energy prices in April followed a 3.9 per cent increase in March, with the cost of gasoline leading the charge, up 28.6 per cent on an annual basis.

Canada’s annual inflation rate increased to 2.8 per cent last month, according to Statistics Canada, with energy prices up 19.2 per cent year-over-year.

The jump in energy prices in April followed a 3.9 per cent increase in March, with the cost of gasoline leading the charge. Gas prices were up 28.6 per cent on an annual basis due to the Strait of Hormuz remaining blocked.