Annual inflation rate turned negative in April: StatCan
Canada's inflation rate turned negative in April as the economy came to a standstill in the first full month of the pandemic as part of a spending shift that a top central banker says may signal further changes in consumption patterns post-COVID-19.
Statistics Canada said Wednesday the consumer price index for April fell 0.2 per cent compared with a year ago, the first year-over-year decline since September 2009.
The reading compared with a year-over-year increase of 0.9 per cent in March, when the pandemic first started to affect the broader economy.
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