Canada’s annual inflation rate hit 29 month high last month
On a monthly basis, fresh vegetables experienced the largest price increase in May since 2008.
Inflation is back on the climb in Canada, hitting 3.2 per cent in May, a 29-month high, as grocery bills, gas prices, and even airfare all pushed higher at once.
According to new Statistics Canada data, price pressures are spreading well beyond fuel, with fresh vegetables, fruit, and shelter costs all rising again after months of warnings that inflation wasn’t fully tamed.
Inflation was up from 2.8 per cent in April.
While higher gas prices contributed to the increase, the Consumer Price Index still increased at a fast pace last month, even without including the jump in fuel costs.
