(Adds details from report)
OTTAWA May 19 Canada's annual inflation rate
held steady in April as higher energy prices offset a decline in
food costs for the seventh month in a row, data from Statistics
Canada showed on Friday.
The annual inflation rate was 1.6 percent, matching the
previous month's figure and just missing economists' forecasts
of an uptick to 1.7 percent.
The three new measures of core inflation that the Bank of
Canada set last year remained muted.
The CPI (Consumer Price Index) common, which the central
bank says is the best gauge of the economy's underperformance,
held at 1.3 percent.
CPI median, which shows the median inflation rate across the
various components, edged down at 1.6 percent, while CPI trim,
which excludes upside and downside outliers, dipped to 1.3
Overall, prices were up in six of the eight major components
of the total inflation measure, with gasoline prices increasing
15.9 percent from a year earlier amid supply disruptions at oil
The decline in food prices was broad-based, with cheaper
fresh fruit and vegetables, meat and dairy products sending the
segment down 1.1 percent. Still, the downward pace moderated
from the previous month's annual 1.9 percent drop.
(Reporting by Leah Schnurr; Editing by Lisa Von Ahn)