Home Ranch News Inflation Rate Rises to Highest Level Since August 1991

Inflation Rate Rises to Highest Level Since August 1991

Gas prices impacting the largest inflation increase

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Statistics Canada says the annual inflation rate rose to 5.7 per cent last month, putting it at the highest level since August 1991 and marking the second straight month over 5 per cent.

The largest drive for the increase was again at the pumps which was up 32.3 per cent when compared to numbers last year and 6.9 per cent a month earlier.

Stats Canada says without factoring in gas, the inflation rate would have been at 4.7 per cent.

Prices also were up at the grocery store at 7.4 per cent for the largest yearly increase since May 2009 which is pushed at rising fuel costs being passed onto consumers.