Inflation in Canada rose to 2.8% in April, marking the fastest annual pace of price increases in nearly two years, according to Statistics Canada.
The increase was driven mainly by gasoline prices, which were up 28.6 per cent year-over-year amid global oil disruptions linked to conflict in the Middle East and Iran.
StatCan also pointed to seasonal factors such as the switch to summer fuel blends, while a federal fuel excise tax suspension helped soften some of the price pressure.
(Written by: Matt LeBlanc)