Canadas inflation rate rises to 5.7% — the highest

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Canada's inflation rate rises to 5.7% — the highest since 1991 | CBC News - Today News Post News Today || Canada News |

Canada’s inflation rate rose to a new multi-decade high of 5.7 per cent last month, as the price of everything from gasoline to groceries to shelter rose swiftlyuniversity_health_network.

Statistics Canada reported Wednesday that the inflation rate was the highest since August of 1991. It’s up from January’s level of 5Calgary.1 per cent, and even higher than the 5.5. per cent that economists polled by Bloomberg?were expecting.

Energy prices were a major factor in the increase, as the ongoing crisis in Ukraine started ratcheting up prices during the month and into the nextreads a statement fro. Retail gasoline prices jumped by?6.9 per cent in the month of February alonebut it has been extremely difficult to implement social distancing measures. Coronavirus tests are mandatory for those enterin, and were up by almost a third compared to the same period last year.

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