UPDATE 1-Canada April annual inflation rate rises to 2.4 pct

Newswire

OTTAWA, May 20 (Reuters) - Canada's annual inflation rate in April met market expectations, rising to 2.4 percent from 2.3 percent in March due mainly to an increase in gasoline prices, according to data released by Statistics Canada on Friday. The Canadian dollar nudged lower to 79.48 US cents from 79.62 US cents, or C$1.2581 from C$1.2560, after the data was released. Gasoline prices were up 15.3 percent from April 2004, Statscan said in its daily bulletin. The Bank of Canada's ...

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