Inflation rate rises
Posted Nov 23, 2010 07:22:03 AM.
This article is more than 5 years old.
Statistics Canada says Canada’s annual inflation jumped half a point to 2.4 per cent last month, as the cost of gasoline, cars, shelter and food all rose.
The rate follows a 0.2 per cent rise the previous month and brings the country’s annual inflation rate to the highest it’s been in two years.
On a monthly basis, overall prices increased by 0.4 per cent in real terms from September.
Prices rose in every province, but no more so than in Ontario, where the inflation rate reached 3.4 per cent.
The bigger-than-expected increase was partly attributed to the introduction of the harmonized sales tax in the big provinces of Ontario and British Columbia, but even underlying core inflation saw a hefty lift, to 1.8 per cent from 1.5 per cent in September.
