Statistics Canada says the increase in the inflation rate between May and June was the "largest yearly change since January 1983." The consumer price index for May was 7.7 per cent.
The agency says the increase was mainly because of higher gas prices, though increases "remained broad-based with seven of eight major components rising by 3 per cent or more."
Meanwhile, on a monthly basis, Statistics Canada says the inflation rate rose 0.7 per cent last month, after a 1.4 per cent increase in May.
Edited by Victoria Watcher, 20 July 2022 - 04:51 AM.