April inflation hits near-record high as fuel and energy costs soar
Inflation surged in April, reaching its highest level since May 2024. Prices climbed across nearly all provinces, with gasoline and energy costs leading the rise. Only British Columbia saw a slower increase compared to other regions. The national inflation rate jumped sharply in April, far exceeding March’s 2.4 per cent. Gasoline prices alone soared by 28.6 per cent, pushing the cost in Toronto from £1.26 to £1.76 per litre since December. While the suspension of the fuel excise tax softened some of the impact, oil and other fuels still rose by over 40 per cent.
Energy costs overall climbed by nearly 20 per cent compared to last year. Clothing and footwear also became more expensive, with women’s clothing up by 1.4 per cent and the broader category rising by two per cent. The only notable drop came in travel tours, which fell by 11 per cent after an 11.5 per cent increase in March.
April’s inflation figures mark the steepest monthly rise in nearly a year. Higher fuel and energy costs drove much of the increase, while clothing and footwear added to the upward pressure. The data reflects widespread price growth, with most provinces experiencing faster inflation than in previous months.
