By Rosalind Russell – Inflation rose 3.2% year over year in May.
Stats Canada says that’s up from a 2.8% gain in April.
The agency says higher prices for gasoline continued to drive the acceleration in the headline Consumer Price Index – pointing to supply uncertainty stemming from the conflict in the Middle East.
Officials say consumers paid the highest prices for gasoline since June 2022, when Russia’s invasion of Ukraine created supply uncertainty.
The cost of travel tours and air transportation was also up along with prices for fresh fruit and vegetables.
Tomato prices alone ballooned by 45% because of weather and US tariff-related supply issues in Mexico.
Photo: engin akyurt- unsplash.com
Submit News Tip
