Canada: headline CPI rose 2.2% on a year-over-year basis in April

"The Consumer Price Index (CPI) rose 2.2% on a year-over-year basis in April, following a 2.3% increase in March," Statistics Canada reported this Friday.

Key points:

   •  On a seasonally adjusted monthly basis, the CPI rose 0.1% in April, matching the increase in March.
   •  Seven of eight major components increased on a year-over-year basis in April. 
   •  The price of services (+2.3%) increased more slowly on a year-over-year basis in April, after posting a 2.7% increase in March.
   •  Prices for non-durable goods (+2.7%) increased less in the 12 months to April than they did in March (+3.0%). 
   •  Prices for semi-durable goods increased 2.3% in April, following an increase of 0.2% in March.