Inflation expected to top 3% in April on gas prices

Canadian inflation is expected to jump above 3 per cent for the first time since 2023, according to economists surveyed ahead of Statistics Canada's April data release. The spike is being driven largely by soaring gas prices, which reflected the full impact of recent energy market shocks. Analysts at major banks point to the sharp increase in pump prices as the main culprit behind the anticipated jump from March's 2.4 per cent.