Canada's inflation rate turned negative in April for first time since 2009
Canada's inflation rate fell to an annualized –0.2 per cent in April, as the COVID-19 pandemic pushed down consumer prices to their lowest level in more than a decade.
Among the major categories seeing huge price declines were:
Food prices were among the few products that got more expensive during the month, rising by 3.4 per cent overall due to "higher demand for non-perishable food products, as consumers were encouraged to limit grocery shopping trips as a result of physical distancing measures," the data agency said.
- Gasoline, down by almost 40 per cent.
- Traveler accommodation, down by almost 10 per cent.
- Electricity prices, down by more than four per cent.
- Clothing and footwear, down by almost six per cent.