Canada's inflation rate eased to 2.7 percent in April as price growth slowed across various sectors of the economy. According to Statistics Canada, the annual inflation rate has reached 2.7% from 2.9% in March. The decline in price growth in the food, services and durable goods sectors has played an important role in this decline. Also, the increase in the price of gasoline has also helped to reduce the rate of inflation.

The Bank of Canada's core inflation measures, which exclude price volatility, also fell last month. These inflation figures are expected to influence the Bank of Canada's interest rate decision due on June 5. These changes may lead to new monetary and economic policies in the near future.



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