(RTTNews) - Canadian consumer prices continued to rise in April, putting further pressure on the Bank of Canada to hike interest rates as the nation's economy recovers from the global recession.
Consumer prices rose 1.8% in the 12 months to April, following a 1.4% increase in March, according to data released by Statistics Canada Friday morning.
The result was roughly in line with the expectations of economists.
The annual increase in overall consumer prices was fueled by a 9.8% rise in energy prices.
Prices at the pump exerted the strongest upward pressure on the all-items CPI for the sixth consecutive month, the agency noted. In April, prices at the pump were 16.3% higher than they were in April 2009.
Stripping out volatile food and energy prices, core consumer prices rose 1.1% in April following a 1% advance in March.
The Bank of Canada's core index advanced 1.9% over the 12 months to April, following a 1.7% rise in March.
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