Investing.com - The overall rate of inflation in Canada slowed in April, Statistics Canada said on Friday.
The consumer price index rose 2.2% last month, compared with the same month a year earlier.
Prices rose by 0.3% from a month earlier.
Economists had expected annual inflation to increase by 2.3% and monthly inflation to rise by 0.4%.
Core inflation, which excludes gasoline, was up 1.5% from a year earlier and rose by 0.1% from the previous month.
The Bank of Canada aims to keep inflation at 2%, the midpoint of a target range of 1% to 3% over the medium term.
At the last monetary policy meeting, the BoC maintained a relatively cautious stance, dismissing the recent surge in inflation as reflecting mostly transitory factors that will fade over time.
Markets saw only around 40% odds for a hike at the next policy decision on May 30.
