Canada's inflation rate rises to highest level in a decade, at 3.6%

June 16, 2021

Canada's inflation rate increased to 3.6 per cent in May, the fastest pace in a decade, Statistics Canada says.

The data agency said in a news release Wednesday that the cost of just about everything is going up at a much faster pace than usual, from shelter and vehicles, to food, energy and consumer goods.

The cost of shelter increased by 4.2 per cent in the year up to May, the fastest rise in the cost of putting a roof over one's head since 2008. And the cost of filling a home with furniture and appliances also went up, by 4.4. per cent. That's the fastest pace of an increase for so-called durable goods since 1989.

This is an excerpt from a CBC article.

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

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