Inflation rate drops to 1.7% in April, driven by lower energy prices after carbon tax removal [Video]

Canada’s inflation rate eased to 1.7 per cent in April, driven by a drop in prices after the federal government removed the consumer carbon tax, according to Statistics Canada.

The slowdown came after the inflation rate hit 2.3 per cent in March. Lower crude oil prices were also a factor in the decline, the data agency said. 

Despite the decline in headline inflation, core inflation measures all rose in April, some above three per cent — well above the Bank of Canada’s two per cent target rate.

The central bank watches those numbers closely because they strip out volatile …