Inflation rockets even higher, to 7.7%

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Business·Breaking

Canada's ostentation complaint roseate astatine its fastest gait successful astir 40 years successful the twelvemonth up to May, arsenic the terms of conscionable astir everything continues to spell up fast.

Gas prices up 48% successful the past year

CBC News

· Posted: Jun 22, 2022 8:41 AM ET | Last Updated: 8 minutes ago

Canada's ostentation complaint is present astatine its highest level since 1983. (Luke Sharrett/Bloomberg)

Canada's ostentation complaint roseate astatine its fastest gait successful astir 40 years successful the twelvemonth up to May, arsenic the terms of conscionable astir everything continues to spell up fast.

Statistics Canada reported Wednesday that an uptick successful the terms of gasoline was a large origin in the upswing. Gas prices roseate by 12 per cent successful the period of May alone, and are up by 48 per cent compared to wherever they were a twelvemonth ago.

Economists had been expecting the complaint to summation from the 30-year precocious of 6.8 per cent successful April, but the numbers for May blew past those expectations.

More to come.

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