Canadians paid 3.4 per cent more for goods and services in April than a year earlier, as prices bounced back from a steep plunge last year, the government statistical agency said on Wednesday.

The inflation rate, following a 2.2 per cent gain in March, rose at its fastest pace since May 2011 and was 0.3 percentage points higher than analysts had expected, more than a year after the World Health Organization declared a pandemic.

Gasoline prices rose 62.5 per cent year over year – setting a new record high, according to Statistics Canada.

Gasoline prices rose 62.5% year over year – setting a new record high- Statistics Canada

Homeowner’ replacement costs, meanwhile, climbed 9.1 per cent, posting the largest gain since April 1989, led by higher building costs and demand for single-family homes that pushed up prices for newly built homes. Prices for clothing and footwear, electricity and passenger vehicles were also up.

But a larger supply pushed down prices for tomatoes 29.8 per cent. Prices for telephone services also fell, partially due to wireless service providers offering bonus data promotions on some cellular plans.