Markets More Cautious, April Inflation In Canada Soars! - Kakiforex.com - Financial Market Media No. 1 in the World Markets More Cautious, April Inflation In Canada Soars! Markets More Cautious, April Inflation In Canada Soars!
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May 21, 2021

Markets More Cautious, April Inflation In Canada Soars!

 UK inflation rates soared in April and exceeded economists ’expectations.


The consumer price index (CPI), a measure of inflation, jumped to 3.4% last month from 2.2% recorded in March. This is among the fastest increases recorded since the pandemic began.


According to the National Statistics Office of Canada which released the report, the April reading was higher than the expectations of experts who are targeting a 3.2%increase. Based on the month count, the CPI reading rate reached 0.5%.



In addition, the Bank of Canada’s (BoC) Core CPI, which excludes volatile food and energy prices, rose 2.3% annually and surpassed analysts ’estimates of 1.3% by a wide margin.


The US dollar strengthened against the Canadian dollar by 0.30% following the release of the inflation report.


At the same time, the UK inflation rate doubled in April as rising energy and clothing costs have driven higher consumer prices.


Meanwhile, analysts expect inflation to continue to rise in tandem as more restrictive measures and economic activity reopen allowing consumers to increase their spending.