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Canada Inflation Quickens to 8.1%, Keeping Up Rate Pressure

  • Consumer price change is the highest since January 1983
  • Gasoline prices spiked, but food inflation may be slowing
Bloomberg business news
How Inflation Hurts and Helps - Explain This
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Consumer price inflation accelerated in June to the highest level since January 1983, maintaining pressure on the Bank of Canada to continue delivering aggressive interest rate hikes.

The consumer price index rose 8.1% from a year earlier, Statistics Canada data showed Wednesday. The inflation gauge increased 0.7% from a month earlier.