Canada's national annual inflation rate was 7.7 per cent in May, Statistics Canada says. This is its highest level in nearly 40 years, fuelled by soaring gas prices.
The gain came as energy prices rose 34.8 per cent compared to a year ago, with gasoline prices up 48.0 per cent compared to a year ago. Statistics Canada also said the price for food bought at stores rose 9.7 per cent compared with a year ago, matching the April increase, as the cost of nearly everything in the grocery cart went higher.
Here's what happened in the provinces (previous month in brackets):
Statistics Canada also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets):
This report by The Canadian Press was first published June 22, 2022.
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