The Consumer Price Index (CPI) increased 2.8% year over year in April, up from an increase of 2.4% in March. Higher energy prices, most notably gasoline prices, drove the acceleration in the headline CPI. The removal of the consumer carbon levy in April 2025, which resulted in monthly declines for gasoline and natural gas, has now fallen out of the 12-month movement, putting upward pressure on the all-items CPI. Excluding gasoline, the CPI rose at a slower pace year over year in April (+2.0%) compared with March (+2.2%). Moderating faster price growth in the all-items CPI was a year-over-year decline in prices for ... (full story)