Inflation rate rises
Posted Sep 21, 2011 08:08:50 AM.
This article is more than 5 years old.
OTTAWA – Canada’s annual inflation rate jumped 0.4 points to 3.1% in August as consumers paid more for gasoline, food and many other items as well.
Statistics Canada says on a month-to-month basis, consumers paid 0.3% more in August than in July.
The surprisingly strong jump reverses a recent trend to more moderate inflation, which had seen the rate fall from 3.7 during May to 2.7 in July.
But purchasing gasoline was 22.8% more expensive last month than in August 2010, and food cost 4.4% more. Other items that saw noticeable gains were passenger vehicles, home and mortgage insurance, jewelry, telephone services and electricity.
The agency says core inflation, which excludes volatile items such as energy and some foods, rose three notches to 1.9%.
Regionally, most provinces saw an increase in inflation last month, with New Brunswick continuing to have the highest rate in the country at 4.1%.
Ontario meanwhile saw its rate inch upwards to 3.1% from 3.0%.
