https://sputniknews.in/20260622/canada-inflation-hits-32-highest-since-2023-statcan-11353808.html
Canada Inflation Hits 3.2%, Highest Since 2023: StatCan
Canada Inflation Hits 3.2%, Highest Since 2023: StatCan
Sputnik India
Canada's Inflation increased to 3.2% in May marking the highest rate on record since December 2023 when it stood at 3.4%, Statistics Canada (StatCan) said on... 22.06.2026, Sputnik India
2026-06-22T21:08+0530
2026-06-22T21:08+0530
2026-06-22T21:08+0530
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Higher gasoline prices are behind the acceleration in May's CPI, the agency said. Not accounting for prices at the pump, the Consumer Price Index still rose by 2.2% up from 2% in April, it added.According to the bulletin, on a year-over-year basis, gasoline rose by 33.2% in May compared with 28.6% the previous month. Atlantic provinces were the most affected due to higher expenditure shares, and the nationwide increase is mainly attributed to uncertainty caused by the conflict in the Middle East and the closure of the Strait of Hormuz.
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canada, middle east, strait of hormuz, economics, economic crisis
canada, middle east, strait of hormuz, economics, economic crisis
Canada Inflation Hits 3.2%, Highest Since 2023: StatCan
Canada's Inflation increased to 3.2% in May marking the highest rate on record since December 2023 when it stood at 3.4%, Statistics Canada (StatCan) said on Monday.
"The Consumer Price Index (CPI) increased 3.2% year over year in May, up from a 2.8% gain in April," StatCan said in the latest edition of its "The Daily" bulletin.
Higher gasoline prices are behind the acceleration in May's CPI, the agency said. Not accounting for prices at the pump, the Consumer Price Index still rose by 2.2% up from 2% in April, it added.
"Consumers paid the highest prices for gasoline since June 2022," StatCan said.
According to the bulletin, on a year-over-year basis, gasoline rose by 33.2% in May compared with 28.6% the previous month. Atlantic provinces were the most affected due to higher expenditure shares, and the nationwide increase is mainly attributed to uncertainty caused by the conflict in the Middle East and the closure of the Strait of Hormuz.
