Canada’s Consumer Price Index (CPI) rose 2.8% year-on-year in April, according to figures released moments ago, compared to 2.4% in March. The core CPI, which excludes gasoline prices, rose 2.0% year-on-year, up from 2.2% in March.

On a monthly basis, the index rose 0.4% in April, following a 0.9% increase in March, while expectations were for a 0.7% rise.

The largest contributor to inflation in April came from the energy sector, which saw a 19.2% year-on-year increase, following a 3.9% rise in March. Gasoline prices, in particular, jumped 28.6% year-on-year, after a 5.9% increase in March.